Friday, March 27, 2020

After IndiGo, GoAir, Vistara airlines cuts pay by about 10%

New Delhi: After IndiGo and GoAir, Vistara has also cut employee pay by about 10% to survive the severe turbulence caused by coronavirus. The Tata Sons-Singapore Airlines JV is also asking its staff to take leave without pay for varying periods till April 15, when domestic and international flights may resume in India unless that date is extended again to control the spread of the pandemic.
While we are doing all possible including a recruitment freeze, we have to look at other means to further reduce our cost. Therefore, for the period April 1-14, 2020, all staff (except some) will be required to go on a few days (ranging from one to 3) of compulsory no pay leave (CNPL)…. annual salary increment exercise in every April for all eligible staff will be deferred to July 1, 2020, and an appropriate decision shall be taken then. For staff in Level 2 and above, the annual pay-out for variable performance pay will be deferred to July 2020,” Vistara CEO Leslie Thng said in a mail to employees.
Accepting the financial implications of these moves on employees, Thng has termed the corona-caused impact as unprecedented in terms of impact on “business and cash flow. Our main priority is to preserve job and maintain employment for everyone within the Vistara family.”
27/03/20 Saurabh Sinha/Times of India
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