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MUMBAI (AFP) - The boss of India's biggest domestic airline said he has scrapped plans to lay off up to 1,900 employees because their tears caused him sleepless nights.
All 800 employees at Jet Airways who had already been laid off were called back to work Friday -- just 48 hours after they were told to go by the airline, citing large losses.
Jet said earlier this week it would sack up to 1,900 employees, marking the first mass layoffs in the formerly booming Indian aviation sector.
"I could not sleep at night. I was mentally disturbed when I saw tears in their eyes. I apologise for all the agony you went through," Jet chairman Naresh Goyal told a news conference in Mumbai late Thursday.
He said he had made a "personal decision... without any external pressure."
"The management will have to understand this," he added.
Originally posted by Maxmars
The real question is whether that manager has knowingly sacrificed profit in the name of keeping his employees.
I know we all naturally are inclined to 'believe' that if a company is 'cutting back' they must be 'losing money' - and maybe that is often true. But I have found (and believe me I do a lot of mundane financial analysis) that many times they are cutting back to maintain a certain 'level' of profit for their board and shareholders.