So the 1900 employees of JET airways are all back to work!
Apparently Mr.Goyals emotions came to the fore and his conscience awoke.... methinks someone prodded it in a not so nice manner! I'm not taking sides. Just trying to understand that sometimes hard decisions are necessary. It happens all over the world. Why not here!!
Consequently the employees (on probation) are back to work. The airline posted a loss of Rs.2.21 Billion in the first QTR of 2008. Here's a chance to do better!
I'm not a socialist believing that money must be invested without any thought of return. I sympathize with the 1900 folks.. but folks - get alive...after all the ruckus ou made on the roads of Mumbai... do you really think you're gonna get a raise in JET ... ever???
Also, our corrupt and sh**faced politicos must realize that if a business can't make money - it ain't worth doing. Either you re-organize, find a better way to do it, or quit and let someone else do it. There ain't no prize for coming in second best. So if you wanna compete with our neighbors in CHINKland, you gotta imrpovise. They are not going to roll over and play dead.
Airlines is a tricky business at the best of times. These are difficult times. So the falling markets lead to a threat perception that all is not well. I'd rather do a VC than travel all the way. So the dudes who'd planned their targets based on my travel plans are left high and dry. You got to reach a minimum quorum to run a business enterprise. Sadly - things ain't so easy.
But 1900 folks have done more damage than they expected / imagined.
Corporate India will be wondering which BHAI (big brother) will call them when they retrench or issue pink colored papers!
If businesses stopping making money - who's gonna fill the coffers of these bhais?