New Delhi: Jet Airway has informed its employees that the airline will not be able to operate beyond 60 days unless cost cutting measures, which include pay cuts, are put in place, two executives confirmed to ET.
The management team, including its chairman Naresh Goyal, informed employees in face-to-face meetings in recent days in Mumbai and Delhi that the airline’s financials are in a bad shape and drastic measures needed to be taken to cut costs.
The warnings of low cash levels have rattled employees at India’s oldest private sector airline, who have been told in recent days to take up to 25% cut in salaries, and triggered protests.
Employees are trying to figure out what to make of these warnings with some saying that the situation probably has been exaggerated to make some employees leave.
03/08/18 Mihir Mishra/Economic Times
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The management team, including its chairman Naresh Goyal, informed employees in face-to-face meetings in recent days in Mumbai and Delhi that the airline’s financials are in a bad shape and drastic measures needed to be taken to cut costs.
The warnings of low cash levels have rattled employees at India’s oldest private sector airline, who have been told in recent days to take up to 25% cut in salaries, and triggered protests.
Employees are trying to figure out what to make of these warnings with some saying that the situation probably has been exaggerated to make some employees leave.
03/08/18 Mihir Mishra/Economic Times
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