Air India cuts employee incentives
Mumbai, Sep 24: Continuing its cost cutting measures, Air India has decided to axe productivity linked incentives (PLI) and the cut would be applicable to all officers, including top management.
The cut will range from 25 per cent for those getting PLI of Rs 10,000 or less a month, to 50 per cent for those getting incentives of at least Rs 200,000 a month.
According to a statement released by the company on Wednesday, Sep 24, the cut will be effective from PLI payable in Aug 2009 onwards.
Air India like the other carriers posted a huge loss this fiscal year and sought a government bailout.
Aviation Industry has been one of the worst-hit by the global economic crisis.