A large number of companies have cut back on their employees’ incomes due to the corona epidemic. Vistara Airlines has decided to reinstate some of its employees’ pay cuts from April 1. The CEO of the company, in a letter to employees, said that the salaries of employees from one to three levels are being withdrawn. At the same time, a 15% and 25% reduction in fourth- and fifth-level employees will continue.
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In June 2020, Vistara Airlines, owned by Tata Sons and Singapore Airlines, decided to cut employees’ pay by 40%. The cut was up to December 31, but was later extended to March 31. However, the company is not going for a pay rise since April 1. If the situation improves, higher salaries will be considered.
The CEO of the company wrote to his employees, “Our board has banned salary cuts from level 1 to level 3, but the leadership team (Stages 4 and 5) and my salary will continue to be underpaid.
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The letter also mentions a 10% reduction in pilot’s pay. The CEO said it would be adjusted on monthly bonuses and allowances. At the same time, employees who qualify for the variable performance of 2020-21 will be paid in May.