SriLankan Airlines to enforce pay cut across the board
View(s):SriLankan Airlines, amid a crisis that all airlines across the world are facing, has announced mandatory salary cuts for all staff in a series of measures to reduce costs.
In a statement on Thursday, the national carrier said these measures include mandatory salary reductions from the staff starting from 2.5 per cent to 25 per cent for a period of three months, freezing all the salary increments to be implemented in 2020, and other initiatives including temporarily terminating operations from April 8 to 21 with the exception of cargo services which have a direct impact in saving costs. Earlier the airline said that all the directors on the board don’t receive any remuneration.
The airline said that the airline industry faces its gravest crisis in the modern times with some airlines grounding their fleet, either partially or completely, discontinuing all non-essential business operations and sending staff on compulsory unpaid leave or imposing salary cuts to minimise costs and maintain their position as viable business entities. It said the airline management has already taken measures to preserve the liquidity of the national carrier by negotiating deferred payment plans and deductions with airline’s key suppliers.
“The management of SriLankan Airlines is taking all endeavours to protect and safeguard its staff members and their employment with the total confidence that the airline will collectively overcome these challenges, with the strength of the airline’s employees,” the statement said.