Jet Airways on Friday said it would retrench excess staff to tackle the financial crisis it faces following the global slowdown, but stressed that reports of huge layoffs were overstated.
“Retrenchment is the last resort for us. We have excess staff,” a Jet Airways spokesperson told reporters. “But reports appearing in the media about huge layoffs are grossly overstated.”
Justifying the decision, the carrier said the worldwide economic slowdown has had an adverse impact on all businesses including the aviation sector.