Tata Teleservices getting ready to close down it's services.

Tata Teleservices, the telecom unit of Tata Sons, is preparing to close down it's business. With a debt burden of Rs.30,000 crores, Tata Teleservices is unable to sustain, in the ongoing cut-throat competition. In it's 149 years of history, this is the first time that a major unit of the Tata Sons is getting closed down. The Company is preparing various schemes for the termination of the services of it's employees, including the issuing of notices to it's employees, varying from 3 months to 6 months. Severance packages and voluntary retirement scheme, are the other routes.