The salary of the employees will be cut by 50%. This reduction will also happen at the officer level. The quantum of deduction will be prescribed higher for CEO CFO. It has been decided to send 60 percent of the employees on leave without pay, while there will be a temporary cut in the salary of other employees.
JET Airways Employees Salary: These days there is a phase of retrenchment of employees. In fact, many big companies are continuously demanding resignation from their employees. Meanwhile, the aviation company has also given a big blow to its employees. After being closed for several days, preparations are being made to fly once again by the aviation company Jet Airways. However, the situation is still not improving.
Leave without pay for 60 percent of employees
In fact, the company has decided to cut the salaries of many of its employees. Preparations are being made to send some employees on leave without pay. According to media reports, Jet Airways has decided to send 60 percent of its employees on leave without pay, including many senior managers.
Apart from this, a temporary reduction in the salary of the remaining employees can also be done. It is too early to say anything about the future of Jet Airways. Jalan Call Rock Group on Friday said that the company may have to take some tough decisions. Actually such decisions are being taken to organize the cashflow.
The airline was handed over the Certificate of Air Operations in May 2022 by the Civil Aviation Ministry after being shut down for several years. However, despite this, the operation has not started yet.
Preparing to send on leave for 3 months
According to a CNBC-TV18 report, Jet Airways has decided to send seven percent of its employees, including its senior manager, on leave without pay for three months from December 1. Apart from this, the salary of some employees can also be cut by up to 50 percent.
CEO Clarification
Jet Airways CEO Sanjeev Kapoor said that the temporary salary of some employees has been cut. Some have been temporarily placed on leave without pay. Sanjeev Kapoor has clarified that no one is being fired.
Some tough decisions to manage cash flow
The airline’s CEO Sanjeev Kapoor said in a tweet that less than 10% of the total employees will be on temporary leave without pay while one-third will be on temporary pay cut. In its statement, Jet Airways said that the handover of the company is awaited as per NLCD procedure. With this taking longer than expected, some difficult decisions have been taken to manage the cash flow.
Inability to pay 250 crores
Earlier, JCK, the new owner of Jet Airways, was instructed by Anklet to clear the PF and gratuity dues of the employees. Meanwhile, in the midst of preparations for the revival of Jet Airways, on November 18, NCLT has been told by Jalan Colrock that it is completely unable to pay 250 crores towards provident fund and PF payment to the employees.
