Airlines line up job cuts to tide over challenging times

NEW DELHI: Reeling under the high fuel rates, country's leading airlines, including Kingfisher and Jet, are looking at downsizing staff strength, apart from other measures, to cut costs.

The latest to conduct downsizing exercise is Vijay Mallya-led Kingfisher Airlines, which is laying off 300 employees.

India's largest private carrier Jet Airways has also embarked upon a downsizing exercise and has worked out a voluntary separation scheme (VSS) for 687 JetLite employees.

"As part of a concerted company-wide effort aimed at minimising the impact of the ongoing turbulence faced by the aviation industry, Kingfisher Airlines has over the last six months embarked on a series of restructuring measures designed to achieve cost savings and rationalisation and operational efficiencies," Kingfisher spokesperson said.

"As a result, 300 employees have chosen to move on and have parted ways with the company and/or put in their resignations," he added.

For the outgoing employees, the airline is offering a severance package equal to two months gross salary for every completed year of service (subject to a minimum of 3 months pay-out), he said.

Jet Airways has worked out a voluntary separation scheme (VSS) for 687 employees for JetLite.