MUMBAI: The decision, reports a leading Indian business daily, is seen as a move to shape up the company as an ideal candidate for the next round of disinvestment. Quoting sources, the daily said that the company operates in two metros has a jumbo employee roll of 58,000. This could well turn out to be the largest VRS scheme announced by a public sector company as more than 10,000 employees are eligible to opt for the golden handshake. If the scheme receives a good response, it will be followed up by a VRS scheme later, the newspaper said. On Friday, MTNL shares ended 9.26 per cent higher at Rs 125.7 on BSE. Industry observers believe that this is the first step towards disinvesting the company. The scheme is likely to generate some controversy as MTNL union here — MTNL Kamgar Sangh — wants the company to redeploy the employees. MTNL director (finance) RSP Sinha confirmed that the scheme has been approved. The scheme will be open to any employee who has completed 20 years in the company and is above 40 years of age. The employee would be given 60 days of salary for each year completed or for the years remaining, whichever is less, he explained. But, MTNL union is not happy. "The management has unilaterally announced the scheme. It is not acceptable to us as full pension benefits should be offered to all employees," said MTNL Kamgar Sangh general secretary Arvind Sawant. (Source:ET)