|
|
|
 
 
 
 
|
|
|
|
|
||
|
| ||||
| ||||
| ||||
| ||||
| ||||
|
|
|
Wage deflation real in India now - Kingfisher cuts pilots'' salaries by 20%
India faces deflation and severe economic slowdown. Silently the purchasing power of people is going down severely. The credit limits are also forcing people to pay with real cash instead of personal loans or credit cards.
People are losing well-paid jobs in Airlines, IT, and call centers. The high end of the economy is worst hit.
For example, moving quietly, private air-carrier, Kingfisher Airlines, has initiated a Rs 80,000 cut in the salaries of all its pilots. The Airline attendants are already squeezed.
"Earlier, we were being paid a salary of Rs 4.30-lakh per month. Now it has been cut to Rs 3.50-lakh, all in the name of integration (with the erstwhile Deccan)," a Kingfisher pilot said in Mumbai.
Indian economy faces severe slow down. It is headed for a deep depression within two years. The economic depression will create havoc in India till 2020, according to quantitative models.
BIZ/FINANCE ARTICLES
|
|
| Click here to get ad specs and place your ad or Click here to contact the advertisement department |
Send Letters to the Editor
|
Add RSS headlines