Is firing labour the only solution for India Inc?

Yes in concord with Sukumar's view, I would disagree with Ms Malik.  There are lot of ways to evade job cuts.  eg

1. Salary cuts for a specified period ( more importantly at all levels )

2. Remove or lessen the bonus components

3. Find methods to reduce cost and improve operations...

Job cut should be the very very last option if nothing of above or else doesnt work.

And I am very sure that an employee will happily agree to these solutions rather than getting laid off and will respect the company more.  This will not only boost employee's morale and inspire him to work more religiously but also his association period with the company may increase.  Because bad times never will last for forever and when they surpass companies will more determined and loyal employees than before.

Recent examples that comes to my mind is that of Goldman Sachs.  It did the same thing and to honour its employees patience and loyalty, it not only gave them the raise they deserved a year back bt were served with approx 100% bonuses.

So tt is always bilateral relationship because no company exists without its employees.

Regulations should help get redistributive justice for everyone. The second Labour Commission had recommended that every retrenched employee get 90 days' salary per year multiplied by the days of service. The law now provides just 15 days' salary. In China, if someone loses his job in sick government units, it is the government's responsibility to provide 50 per cent wages per year till it is able to find him an alternative job. It may apply this to private companies too. If you are a country with a surplus population, throwing you in the Arabian Sea is certainly not a solution. It is a governance issue. The government can't simply wash its hands off this. Profits should be for people and not over people. Surely companies can allow people to sit at home for six months with wages till they get another job? Mahatma Gandhi said that industry is a trust and the employer is a father who should look after workers as his children. Today it is convenient to forget all this ideal of trusteeship.