No salary cuts at IndiGo
With free cash reserves of over ₹9,000 crore, the airline has decided to pay heed to the government’s wish of not reducing pay for employees during the lockdown; it had announced pay cuts earlier.
With free cash reserves of over ₹9,000 crore, the airline has decided to pay heed to the government’s wish of not reducing pay for employees during the lockdown; it had announced pay cuts earlier.
In a bid to tide over the unprecedented crisis because of the Covid-19 pandemic, SpiceJet announced a company-wide pay cut. However, employees in the “lowest pay grades” would remain unaffected.
The airline’s CEO Ronojoy Dutta is taking a 25% cut in salary, while all other employees will have to take a pay cut ranging between 5% and 20%; Employees in bands A and B are exempted.
The decision was taken after the audit committee did not recommend the results for the board’s approval “pending the closure of certain matters”.