Laying off employees in Covid-19 times not a solution for companies: Ratan Tata
Mumbai/IBNS: Contradicting several companies' steps to reduce workforce to sail through the Covid-19 times, Indian industrialist Ratan Tata felt laying off employees can never be the solution to tackle the financial crisis caused due to the pandemic and the subsequent lockdown.
In an interaction with YourStory, Tata said, "The initial tendency when the virus hit (was) lay off people, thousands of people. Is that going to solve your problem?
I don’t think it is, that’s the knee jerk reaction that you had from the traditional workplace, lay off people because the business is gone. But you have a responsibility to those people."
Tata said people will have to find alternative ways to bear the Covid impact and survive.
"You have no place to hide or no place to escape to, Covid-19 hits you wherever you are so what you have to accept is, that whatever your reasons may be, you have to change in terms of what you consider fair or good or necessary in order to survive," the former chairman of Tata Sons and Tata Group added.
In one of the latest developments, private airlines major IndiGo on Monday announced it will lay off 10 percent of its workforce.
"The current pandemic has impacted many industries around the world, amongst which aviation has been one of the sectors that has been impacted the hardest. Even now, IndiGo is flying only a small percentage of its full fleet of 250 airplanes," the company said in a statement.
"After carefully assessing and reviewing all possible scenarios, it is clear that we will need to bid a painful adieu to 10 percent of our workforce," the company said.