Ratan Tata, Chairman of Tata Trusts, said on Thursday, laying off people by Indian companies in these Covid-19 unprecedented times is not the solution, emphasizing that it was a knee-jerk reaction and the way of doing business has to change in the post-coronavirus world.
In this critical time, it is worth mentioning that Tata Group has not fired any staff, while several Indian companies have cut the workforce because of a lack of cash flow after the countrywide lockdown. Although, the Salt to Software has reduced salaries of its top management by up to 20 percent. Many Tata Group firms, including its hotels, airlines, auto business, and financial services are badly hit in the pandemic-induced slowdown but have not fired employees to date.
In a scathing attack on Indian cos, Ratan Tata says layoffs showed lack of empathy among top leadership.“These are people who hv served you all their careers. You send them out to live in the rain. Is that your ethics?”
Tatas hv not laid off anyone, only cut top mngt pay by <20%
— Anto T Joseph (@AntoJoseph) July 24, 2020
Tata said in an interaction with the a website said that “Accept that you have to change in terms of what you consider is fair and necessary in order to survive. One cannot continue to do business in certain ways and one won’t survive if you are not sensitive to all your stakeholders. Working from home is one solution. Laying-off people will not help you solve your problems as you have a responsibility to those employees.”
.@RNTata2000 shares his personal learnings from the pandemic and speaks about the impact and finding solutions to end the crisis.
‘We need to unite in order to find solutions and put an end to this crisis.’
— YourStory (@YourStoryCo) July 23, 2020
He further said “Some of the most interesting or tremendous solutions have been found at moments of distinct difficulties. We as human beings start to look for solutions; we tend to be more innovative and creative to find solutions at such times.”