Almost all of the 400 employees of General Motors in India, who were offered a voluntary separation scheme (VSS), have accepted the deal, according to the company.
General Motors had last month offered the VSS after it decided to stop selling vehicles in India by the end of the year. The scheme began on May 19 and ended on June 15.
Majority of the employees who were offered the scheme were from marketing, sales, finance and administration departments.
"We are pleased to share that we have received 100 per cent acceptance from our employees who were offered separation packages, as a result of restructuring efforts to cease domestic sales and focus on exports," a General Motors India spokesperson told PTI.
When asked how many employees were offered the VSS, the spokesperson said it was around 400.
The company is working closely with the employees and providing them support through career counselling, financial advice, outplacement support and flexibility to explore other job opportunities, the spokesperson added.
The employees were offered compensation of "45 days salary for every year of completed year of service or part thereof in excess of six months" in normal cases.
On the other hand, for those who are nearing retirement, GM offered employees compensation of "monthly salary multiplied by the remaining months of service till normal age of retirement".
The minimum compensation payable eligible was three months salary.
On May 18, General Motors decided to stop selling its vehicles in India as there was no turnaround in its fortunes here after struggling for over two decades to make a mark.
General Motors India President and Managing Director Kaher Kazem had stated around 400 employees engaged in domestic sales and after sales activities would be impacted by the move.
The company will now focus on exporting vehicles from its manufacturing plant at Talegaon in Maharashtra after it stopped production at its first plant at Halol in Gujarat last month.
A water tank with the GM logo is seen at the General Motors Assembly Plant in Valencia