NEW DELHI: Jet Airways is taking a look at pay cuts for workers within the range of five in step with cent for those earning as much as a lakh a month and as much as 25 in step with cent for those with an annual package deal of Rs 1 crore and above.
On Wednesday, Jet's top control reportedly met some pilot representatives and obviously told them that the airline's budget have been precarious.
"They said unless some cost-cutting steps are taken at the earliest, the company may face funding issues," mentioned a source, adding process losses also are not dominated out.
Confirming the pay-cut move, Jet mentioned in a remark it's "committed to creating a competitive cost structure that ensures a sustainable future for the airline and its stakeholders". It added, "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 the airline's cost structure and the senior leadership team has undertaken a reduction in their salary to lead by example."
According to resources, the control has requested pilots and aircraft upkeep engineers to take about 15 in step with cent cuts for 24 months. The deducted salary might not be repaid later.
The causes given for the loss have been surprising fuel value increases, primary markets taken over via festival and no enlargement done in remaining six years. On their part, pilots raised several inquiries to the control.
On Wednesday, Jet's top control reportedly met some pilot representatives and obviously told them that the airline's budget have been precarious.
"They said unless some cost-cutting steps are taken at the earliest, the company may face funding issues," mentioned a source, adding process losses also are not dominated out.
Confirming the pay-cut move, Jet mentioned in a remark it's "committed to creating a competitive cost structure that ensures a sustainable future for the airline and its stakeholders". It added, "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 the airline's cost structure and the senior leadership team has undertaken a reduction in their salary to lead by example."
According to resources, the control has requested pilots and aircraft upkeep engineers to take about 15 in step with cent cuts for 24 months. The deducted salary might not be repaid later.
The causes given for the loss have been surprising fuel value increases, primary markets taken over via festival and no enlargement done in remaining six years. On their part, pilots raised several inquiries to the control.
Airlines in a tailspin: Now Jet talks of salary cuts
![Airlines in a tailspin: Now Jet talks of salary cuts]()
Reviewed by Kailash
on
August 02, 2018
Rating:
