Cut salaries, save jobs: Pranab

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Cut salaries, save jobs: Pranab
New Delhi, Feb 20: Though India fears large scale job cuts due to global recession, Minister for External Affairs Pranab Mukherjee has assured that jobs would be protected even if it meant some reduction in compensation. He was speaking at national labour conference in New Delhi on Friday, Feb 20.

"The government has been conscious of the magnitude of this still-deepening crisis and has been taking steps to mitigate its impact on Indian society," Mukherjee told.

Pranab was of the opinion that “Jobs must be protected even if it means some reduction in compensation at various levels".

The finance minister, Mukherjee's comments come against the backdrop of Labour Minister Oscar Fernandes informing Parliament on Wednesday of large-scale job losses in sectors like mining, textiles, gems and jewellery, automobiles and IT.

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