No layoffs at resurgent Jet Airways, pay cut to affect some employees, CEO says

No staff has been axed ahead of the revival of Jet Airways Ltd., its Chief Executive Officer Sanjiv Kapoor said in a bid to clear the air about job cuts at the incumbent airline.

Kapoor said in a series of tweets on Friday that two-thirds of the workforce will have no impact, while most of the remaining third will see temporary pay cuts.

Only a small percentage of workers, or about 10%, will be on unpaid temporary leave, he said.

“These are all good people who are working hard to try to do something that has never been done before: revive a bankrupt airline. However, due to factors beyond our control, some temporarily difficult decisions have had to be made as the ownership transfer deadline has slipped,” Kapoor wrote. .

“The team working to revive Jet was not responsible for Jet’s cash crunch and shutdown. They are trying to use fresh capital to revitalize the airline, give consumers more choice, create more jobs and bring back old jobs,” he said. .

Kapoor maintained that all employees will be paid in full for the month of November.