Top executives at the company have agreed for a 25% salary cut earlier this month as a mark of their contribution towards cost rationalisation.
A clutch of senior executives at the troubled Jet Airways are looking for better options, industry sources told FE. Top executives at the company have agreed for a 25% salary cut earlier this month as a mark of their contribution towards cost rationalisation. However, pilots rejected a proposal by the company for a 15% pay cut.
“A large number of Jet executives are looking out at the vice-president and above level,” said an industry source. The source added that at least 25-30% of the 25 VPs at the airline are searching for opportunities outside and are in touch with hiring firms. A very senior executive currently involved in the financial restructuring of Jet is among those looking for options.
“The situation at the airline is volatile and people want to secure a job before the situation worsens,” the source said.
A senior executive at one of the top hiring firms said the sense and mood among other high-level executives are “to carry on with financial restructuring that the company has undertaken at a war footing, but at the same time look for good opportunities”.
In response to an FE query on the subject, a Jet Airways spokesperson said, “Your information is completely untrue and incorrect. Jet Airways has always been and continues to be an employer of choice. Contrary to certain speculative media reports, the airline continues to hire resources in line with its strategy. In the last six months alone, Jet hired more than 1,400 people, including leadership members for key roles to support its growth ambitions.”