Jet Airways announces 20 per cent cut in salaries

Mumbai, Nov 23 (UNI) As a cost-cutting measure, leading private Airlines Jet Airways today announced a 20 per cent cut in salaries.

Jet Airways chairman Naresh Goyal told an employees meeting here that if they wanted to stay in the company, they would have to take pay-cuts.

Explaining the situation in view of the world-wide recessionary trends, Mr Goyal said to tide over the present difficult times, the airlines was compelled to take the decision on salary-cuts.

However, the senior employees, including pilots and engineers, were reported to be unhappy over the move.

The Pilots have refused to accept the pay-cut, initiated by the management. They have demanded removal of expatriate pilots and a voluntary retirement scheme. However, the management has refused to give in to their demands, sources said.

Jet Airways has a total workforce of 13,200 personnel, including 2,000, who are drawing Rs one lakh a month.

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