The aviation industry has been witnessing tough times over rising competition, adverse effect of foreign exchange and high fuel prices to name a few. Days after IndiGo Airlines reported a 97 percent fall in its June quarter profit, Jet Airways has informed its staffers that they will have to take a pay cut of up to 25 percent August 2018 onwards.
The percentage depends on the earnings of the employees and range from 5 percent for those who earn about Rs 12 lakh per annum to 25 percent for those who earn Rs 1 crore and more a year.
The airline has informed the employees of the decision and even had a meeting with them to discuss the same. Staffers were also told that the senior management of the company too had already taken a pay cut.
“As part of its cost rationalisation measures, the airline continues to evaluate all initiatives to achieve greater business efficiencies. Payroll is one of the important components of cost structure and the senior leadership has undertaken a reduction in salary to lead by example,” the Economic Times quoted the airline as saying in a statement.
01/08/18 Marta Subat/Infosurhoy
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The percentage depends on the earnings of the employees and range from 5 percent for those who earn about Rs 12 lakh per annum to 25 percent for those who earn Rs 1 crore and more a year.
The airline has informed the employees of the decision and even had a meeting with them to discuss the same. Staffers were also told that the senior management of the company too had already taken a pay cut.
“As part of its cost rationalisation measures, the airline continues to evaluate all initiatives to achieve greater business efficiencies. Payroll is one of the important components of cost structure and the senior leadership has undertaken a reduction in salary to lead by example,” the Economic Times quoted the airline as saying in a statement.
01/08/18 Marta Subat/Infosurhoy
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