Faced with rising operation costs and stung by downturn in the aviation industry, Jet Airways [Get Quote<http://money.rediff.com/money/jsp/quote_process.jsp?query=jet airways (india) ltd>] has begun laying off its cabin crew in phases.
The airline has been laying off cabin crew starting from April 30 and 30-50 employees are being given pink slips almost on a daily basis, an industry source said. Dismissive of the numbers, a Jet Airways spokesperson said, "The numbers indicated are grossly incorrect." In October last year, Jet Airways in one go sacked 1,900 employees but only to take back the very next day with its chairman Naresh Goyal saying he did not want to see "tears in their (employees) eyes". The airline said the notices of release or termination issued to the staff were fully in accordance with their contracts and in compliance with the law. It has undertaken a comprehensive cost restructuring exercise, which includes withdrawal of operations on uneconomic routes, downsizing of capacity, pruning down executive perks and temporary reduction of management salaries and at last but not necessary measures trimming down any excessive workforce. The spokesperson also did not rule out the possibility of more employees being given pink slips, saying, "Implications of the on-going restructuring exercise in terms of personnel requirements, both operational and supporting staff, are being established as we go ahead." http://business.rediff.com/report/2009/may/15/air-pink-slips-galore-at-jet-airways.htm --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
