The airline company Vistara has given a big setback to its employees on Tuesday. Vistara has announced a reduction in salaries of 40 per cent of its employees by 5 to 20 per cent by December. The company said that due to Coronavirus Pandemic, cash flow has been badly affected. The full-service carrier has more than 4000 employees on its payroll. A Vistara spokesperson said, “About 60 per cent of our employees are not affected by the pay cut.”
Vistara CEO Leslie Thng told employees in an email. From July 1, 2020, to December 31, 2020, I will take a 20 per cent pay cut and we will implement a monthly salary reduction scheme for employees excluding pilots. There will be a 15 per cent pay cut for employees in Levels 5 and 4, while a 10 per cent salary cut will be made in the salary of employees in Levels 3 and 2. There will be a 5 per cent reduction in the salary of Level 1 employees, whose monthly CTC is from 50 thousand rupees. Is greater or equal.
The CEO said employees are working on less than 30 per cent of their core network and passenger load on their flights is not as strong as before the corona virus-induced lockdown. He said, our financial performance will continue to be affected by COVID-19 as it will take time to fully recover the travel confidence and demand at the COVID-19 level.