Air India Plans To Lay Off 15000 Employees

Author: Anurag Bhullar

The turmoil of financial crisis is on and it is now showing up its sign on the Indian Aviation industry. With many firms around the globe laying-off its workforce in order to cut cost, Air India on Wednesday made a remark that it is also considering to layoff its 15000 employees of the staff for three to five years leave without pay.

The employees who give their consent for the offer to go on leave would also be allowed to rejoin the company on the last drawn salary and at the same level of seniority, according to senior official of Air India. The decision to retrench some of the work force is followed by a similar incidence in the private aviation sector where Jet Airways has retrenched 1900 jobs due to worldwide financial crisis.
	However, government completely ruled out any such situation of job cuts in Air India and the Civil Aviation Minister also assured aviation employees that there are no such intentions to lay off any staff immediately. The crisis in the aviation industry might affect some of the growth plans and some employment opportunities that would have been good for Air India, he added. Air India, the state owned company that merged with Indian Airlines last year, has proposed the introduction of Rs1000-1500 crore of funds by way of equity capital and Rs 1000 crore in the form of soft loans from the government that can be paid back over a certain time period.