Utility Stores Corporation Announces Drastic Move
The Utility Stores Corporation (USC) has announced the termination of all its employees, effective September 1.
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According to official documents, 11,406 workers will be laid off under a government-approved package worth Rs. 25.5 billion. The package includes payments for regular, contract, and daily wage staff, along with allocations for widows and organizational wind-up costs.
The breakdown shows Rs. 13.18 billion set aside for 5,229 regular employees, Rs. 3.6 billion for 3,323 contract workers, and Rs. 2.71 billion for 2,854 daily wage earners. An additional Rs. 5.75 billion has been allocated for closure-related expenses.
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Employees with over 20 years of service will receive two basic salaries for every completed year, while those with up to 20 years will be entitled to three basic salaries per year or 1.25 times their current basic salary for remaining months. Workers with less than two years until retirement will get full salaries for the period.
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