Voluntary Retirement Scheme (VRS)

Voluntary Retirement Scheme (VRS) is a strategy employed by public enterprises to reduce the workforce without resorting to layoffs or forced retrenchment. VRS allows employees to voluntarily retire from their jobs before reaching the official retirement age, usually with a financial incentive. The scheme is often used ____ _______ ______ _________ __________ __________ ____ __________ _____ ________.
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