Why did Jet Airways announce retrenchment?
The announcement was done due to rise in aviation fuel. Jet Airways thought through retrenchment the expenditure can be controlled which was going high due to fuel prices.
What was the immediate reaction in the environment?
Employees were protesting as they were with no job. By seeing the employees of Jet in such a situation, political parties supported them. Due to this government was forced to rethink on the hike of the prices and as well as the lower staff of the company.
Was this reaction different from a reaction in USA over job losses in the Citi Group? Why?
Why is retrenchment/lay-off such a big issue in India but not in USA/UK?
Does it have something to do with the state of development or society/economy in the two countries?
Do we have different laws? Why? Who or What gives shape to legislation?
Does our history have any role in shaping the kind of labour legislation that we have?
1. Rising Fuel Prices
2. Political Factor
3. Economic Slowdown
4. Financial Viability
5. Increased Competition in Aviation Sector
2. Political Support
3. Panicking Environment
4. Instability in Aviation Sector
5. Public Support/ Media Attention
➢ Short Term
1. Proper Procedure
2. Shifting to lower Waged jobs
3. Reduction in Salary
4. Rescheduling in smaller group
5. Giving media statement
➢ Long Term
1. Change in legislation (more flexible)
2. Aviation government conference
3. Sensitizing to employees needs by company
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