Jet Airways to cut pay and perks

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Jet Airways Airbus
Mumbai, Apr 24: Due to the global economic crisis and financial losses, Jet Airways will be cutting salaries by up to 25 per cent for all its employees drawing a gross salary of above Rs 75,000 per month.

“Huge financial losses have forced the airline to slash salaries by up to 25 per cent to all its employees drawing a gross salary of above Rs 75,000 per month," an industry source told PTI on Friday, Apr 24.

The salary cuts will range from 5 to 25 per cent and also other perks like car facilities and car maintenance allowances will also be cut from the month of May, the source said.

The cut will depend on the salaries of the employees. While the top management faces a 25 per cent pay cut, those drawing a salary of Rs 5 lakh and above would have to take a 20 per cent cut.Salaries of employees in the Rs 2 to 5 lakh range will be cut by 10 per cent, and those getting Rs 75,000-2 lakh have will face a 5 per cent cut.

A Jet Airways spokesperson has confirmed that these measures will be taken, but it will only be a temporary one that may be revised after situation improves.

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