New Delhi: Ratan Tata on Thursday said due to the novel coronavirus Indian companies are at huge layoffs which shows the corporation’s lack of empathy among the top leadership.
“These are the people that have worked for you. These are the people who have served you all their careers. You send them out to live in the rain. Is that your definition of ethics when you treat your labor force that way?” Questioned Tata in an interview to a leading news website.
Many Indian companies have retrenched their staff members due to lack of cash flow amid coronavirus lockdown. Whereas the Tata group did not lay off any of their employees instead they cut salaries of top management by 20 per cent also, several Tata groups like hotels, airlines, financial services, and auto business, are severely hit, but have not laid off employees to date.
“It is impossible to survive as a company if one is not sensitive to its people,” said Tata, adding, “Covid-19 hits you wherever you are. Whatever your reasons may be, you have to change in terms of what you consider fair or good or necessary in order to survive.”
“While everyone chases profits, the question is how ethical the journey has been. Business is not only about making money. One has to do everything right and ethically for customers and stakeholders,” said Tata.
Tata stated that making mistakes is a part of business. The important thing is to do the right thing at the right time and not run back from difficult decisions.
“It’s not been yachts, manors, and huge estates. It’s been a wonderful experience of interacting with people who stand for the same ideas as you do… that’s something I’ve come to miss,” said Tata.