Click to play videoNew Delhi: It was feared and it is happening. The fallout of the financial slowdown is now eating away jobs.
The first to take the hit is the aviation industry.
Jet airways has said it has to save the company so its shelving its expansion plans and 1100 of its employees will have to go and Kingfisher announces plans to follow suit.
The mood outside the Jet office in Mumbai is of anger and resentment by the employees with a big question as to what will happen to them now.
“If they were planning to terminate us, then why did they recruit us?" asks a Jet employee.
As the Czars of the Indian skies joined hands to smile their way into one of the biggest alliances in the Indian aviation sector, reality on ground zero was very different.
Both CEOs Vijay Mallya of Kingfisher Airlines and Naresh Goyal of Jet Airways insist that these job cuts were just a routine exercise to cut costs.
Mallaya says, “ We have led off staff. They (Jet Airways) have led off staff. Wherever we need to cut off cost and be more efficient, we will do whatever it takes.”
Meanwhile, Goyal says, “The Idea is not to get rid of the people. There are bigger issues to be dealt with.”
Even the Ministry of Civil Aviation is maintaining a hands off policy to hiring and firing.
Civil Aviation Minister Praful Patel says, “I do not think as a Minister Of Civil Aviation, I can take a decision and give any directive as to HR issues."
As the aviation sector grapples with a 4000 crore rupee loss this year alone, these times may just be the signs of worse to come.
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