Want news about Jet Airways to land in your mailbox?

Jet takes U-turn; reinstates sacked employees
Jet Airways Chairman Naresh Goyal has said the company has reversed the decision to lay off 1,900 sacked employees. Goyal added that his decision (to take back the employees) has been welcome by the Labour Minister among others and has nothing to do with political pressure.
Jet Airways had sacked 1,900 employees on Wednesday to curb costs in the wake of the challenging environment the aviation industry faces. The move came two days after Jet Airways and rival private carrier Kingfisher Airlines had announced a code-sharing alliance as a cost-cutting measure. The layoff had triggered sharp criticism in political circles and the Raj Thackeray-led Maharashtra Navnirman Sena (MNS) demanded that Jet take back the laid-off employees. The sacked employees had also gone on a strike in Andheri, Mumbai, demanding their reinstatement.
Goyal said that the Jet management had taken the decision without his knowledge.
“My management did it on the basis of some economic conditions as the whole industry has been going through a difficult period. They worked out only the economics. Since I am the head of the family, it means I am the father of the family. My conscience does not allow me to just look at the economics,” said Goyal. “I apologise for all the happenings and everything that the Jet employees and their families went through.”
“When I saw what happened last morning (the strike by the employees), I could not sleep. I did not speak to anyone. I cannot see that the employees are unhappy,” Goyal added.
“I am sure you as a family will find ways and means and sit down to get together to see that these are the ways we can continue,” he stated in an appeal to the sacked employees, adding that together they would find ways to improve and structure the company and be able to survive.
“I request all the employees to report back to work from tomorrow,” Goyal said, adding that, “I am confident that my family will see how they will plan and adjust. I have told them to decide the steps that will keep the business on. Cost-cutting will have to be done and help from the government will also be needed.”
Goyal also made clear that the synergy with Kingfisher was another issue. “That (Kingfisher) alliance is a separate issue.”
Business
Business News | Economy | Earnings | BSE NSE Notices
General News
Current Affairs | Politics | World News | Sports | Entertainment
Corporate Strategy
Management | Advertising | Marketing | Legal
Personal Finance
Tax | Insurance | Credit Cards | Loans | Property | Retirement | Investment Help | Financial Planning | Fixed Income
Markets
Local Market | Global Market | Market Cues | Analysis | Expert & FII outlook | Brokerage Recomendation
Stocks
Stocks in News | Expert Advice | ADRs & GDRs | IPO
Mutual Funds
News | Advice | MF Analysis | Fund Managers Views
Lifestyle
Travel | Wellness | Technology | Auto| Books
MS Banga
President - Global Foods, Home, and Personal Care Business
Unilever
Right time to move on, Unilever healthy again: Vindi Banga
VVS Murthy
CFO
Dishman Pharma
Dishman Pharma invests $20m in new API facility
T Srinivasa Rao
VP-Finance
Rain Commodities
See better op margins, volumes in CY10: Rain Commodities
Rahul Shah
Executive Director
Nitin Fire Protection
See 20-25% revenue growth in FY11: Nitin Fire Protection
-
Most Read
-
Most Viewed
- Demerging non-core biz a positive for Unitech: Tulsian
- Persistent Systems IPO overbid; should you invest?
- Raaja Kanwar: Taking the unusual path to expand Apollo

- Experts guide on how to trade directionless markets

- Ashwani Gujral's top five picks for today's trade

- Vindi Banga to quit Unilever after 33 year stint

- Welspun Gujarat to buy 75% stake in MSK Projects
- Sudarshan Sukhani's top 5 picks for trade today

- Right time to move on, Unilever healthy again: Vindi Banga
- Bharti, R Comm, Vodafone apply for 3G spectrum bid

- Shree Ganesh plans to raise Rs 375 cr via IPO
Source: Business Line
- India`s sovereign wealth fund
Source: ft.com
- London`s miners lifted by global growth hopes
Source: ft.com
- Hero Honda may set up 4th plant in Himachal Pradesh
Source: Business Line


















