Tuesday, January 28, 2020

Air India may opt for a BSNL-like voluntary retirement scheme to shed employee cost along with debt

The government wants to ensure that Air India is sold this time around, as it has also cut down the debt that the new owner will take onto the books.
But there remains yet another hurdle that has been keeping the state-owned airline from being sold - its employees and their unions. According to a release from the Ministry of Civil Aviation, the airline has 17,984 employees, out of which 9,617 are permanent. Over 36% of the permanent employees will be retiring in the next 5 years - that is almost 3,000 of them.
 “The trade union representatives are said to have discussed with the management all the issues concerning their employment such as service-contracts, job-security, gratuity, pension and voluntary retirement scheme after the company goes into private hands,” a source told PTI after a panel of Air India management and trade unions met in Delhi recently.
 28/01/20 Sanchita Dash/Business Insider
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