KUALA LUMPUR (July 24): Telekom Malaysia Bhd (TM) has clarified that its recent voluntary separation scheme (VSS) was open to all employees, including executives and non-executives, aged 50 and above.

The national telecommunications company said that its VSS initiative has received positive feedback from its employees as it offers an option for early retirement or the opportunity to transition to a different career path.

“This scheme is done on an entirely voluntary basis, and TM does not set any rigid acceptance targets for this VSS. Engagements took place with unions and potential participants to ensure transparency and mutual understanding,” TM said in a statement on Monday (July 24).

According to TM, the group’s past implementation of similar programmes have garnered positive feedback, suggesting a tangible interest from specific segments of its workforce.

“At TM, our employees' well-being and future remain central to our values, and we are unwavering in our commitment to their overall welfare and career ambitions,” it noted.

Earlier Monday, a local news portal reported that TM had offered two voluntary separation schemes to its non-executive employees aged 50 and above as a move to trim its workforce.

According to offer documents sighted by the portal, the two schemes are called Mesra, for those aged 55 to 58, and voluntary separation plan (VSP), for those aged 50 to 54.

At 4.34pm, TM shares rose seven sen or 1.4% higher to RM5, valuing the group at RM19.11 billion.