Ford Severance Package

Ford India Private Ltd, which is shutting down its plant, has arrived at a final severance package settlement with the workers union, the company said on Wednesday. According to Ford India, as per the agreed settlement, it will revise the final severance settlement to an average equivalent of 140 days of gross wages per completed year of service from the ongoing offer of 130 days. An additional one-time lump sum of Rs 1.5 lakh will also be included in the final settlement. The cumulative severance for each employee will…