Engineers greeting socialist, employed once more (7)

I believe the answer is:

rehired

'employed once more' is the definition.
('hired' can be a synonym for 'employed' so perhaps 'rehired' is OK for 'employed once more')

'engineers greeting socialist' is the wordplay.
'engineers' becomes 're' (Royal Engineers).
'greeting' becomes 'hi' (hi is a kind of greeting).
'socialist' becomes 'red' (socialism is often associated with the colour red).
're'+'hi'+'red'='REHIRED'

I've seen this clue in The Daily Express.

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