Voluntary separation scheme to meet target: HBFC
House Building Finance Corporation says transformation strategy will turn company into efficient, profitable entity.
KARACHI:
The House Building Finance Corporation (HBFC) has announced that its voluntary separation scheme (VSS) is a key component of the transformation strategy and will turn the company into an efficient, customer-focused and profitable entity.
“So far, the VSS has resulted in a much-needed decrease in the HBFC workforce and it is now heading towards achieving the target,” HBFC said in a press release on Tuesday.
The continuous rightsizing will result in a significant reduction in administrative expenses and an increase in consistent profitability, it added. It said the company had engaged a leading international audit firm for developing the process, procedure and package to be offered to the employees under the VSS.
Published in The Express Tribune, January 26th, 2011.
The House Building Finance Corporation (HBFC) has announced that its voluntary separation scheme (VSS) is a key component of the transformation strategy and will turn the company into an efficient, customer-focused and profitable entity.
“So far, the VSS has resulted in a much-needed decrease in the HBFC workforce and it is now heading towards achieving the target,” HBFC said in a press release on Tuesday.
The continuous rightsizing will result in a significant reduction in administrative expenses and an increase in consistent profitability, it added. It said the company had engaged a leading international audit firm for developing the process, procedure and package to be offered to the employees under the VSS.
Published in The Express Tribune, January 26th, 2011.