• About
  • Contact
Saturday, January 23, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Vistara Announces Pay Cut of 5-20% For 40% Employees Till December

Pritish raj by Pritish raj
June 30, 2020
in News
2 min read
0
Vistara Pay Cut
Share on FacebookShare on Twitter
  • Vistara reported on Tuesday a pay cut of about 40 percent of its workers between five and 20 percent until December due to pandemic.

Vistara reported on Tuesday a pay cut of about 40 percent of its workers between five and 20 percent until December this year as cash flow continues to be adversely affected by the coronavirus pandemic. The full-service carrier is employing more than 4,000 people on its payroll. “The pay reduction will not impact about 60 percent of our workers,” a Vistara spokesperson said.

Vistara CEO Leslie Thng told employees in an email: “From 1 July 2020 to 31 December 2020, I will take a 20% pay cut and we will implement a monthly salary reduction scheme for employees (except pilots as follows)

1) 15% pay cut for employees at levels 5 and 4; 2) 10% pay cut for employees at levels 3 and 2 and licensed engineers at level 1C; 3) 5% pay cut for employees at level 1 with a monthly CTC equal to or greater than Rs 50,000.

“We will continue to reduce the monthly base flying allowance to 20 hours for pilots for July through December 2020. Allowances for pilots within other training categories would also be changed, “he said. Vistara’s pilots had been receiving the base flying allowance, which is a fixed component of the salary, for 70 hours per month until April.

Thng told employees that the airline operates on less than 30 percent of its original network and that the passenger loads on its flights are also not as strong as they were before the lockdown caused by coronavirus.

“COVID-19 will continue to negatively impact our financial results as travel trust and demand will take some time to completely recover to pre-COVID-19 level,” he said. Thng had reported on May 5 that senior workers would have to go on mandatory unpaid leave (LWP) in May and June for up to four days per month. For up to six days in April, Vistara had sent the same set of senior staff on compulsory LWP.

India has resumed its domestic passenger flights on May 25, after two months. Scheduled international passenger flights throughout the country continue to be suspended. The pandemic has struck the aviation sector hard and all India’s airlines have resorted to cost-cutting steps such as pay cuts to survive the crisis.

The Vistara spokesman said on Tuesday, “The ongoing pandemic continues to hurt our financial performance as we operate on a significantly reduced network since the resumption of domestic flights amid low demand.”

“Vistara is making every effort to save more than 4,000 of its people jobs while preserving cash and pursuing a reduction in operational expenditure, which includes personnel costs,” the spokesman said.

Previous Post

RIL Closes Deal To Buy Stakes In Retail Business Of Future Group

Next Post

Vokal Introduces New Microblogging App 'Koo' In 12 Indian Languages

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

LifeStyle Video App Trell Starts Social Commerce for its User Base
News

LifeStyle Video App Trell Starts Social Commerce for its User Base

January 22, 2021
Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery
News

Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery

January 22, 2021
Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie
News

Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie

January 21, 2021
SEBI Approved Much Talked Future Group-Reliance Industries Deal
News

SEBI Approved Much Talked Future Group-Reliance Industries Deal

January 21, 2021
Tata Group is All Set to Acquire 60% stake in BigBasket
News

Tata Group is All Set to Acquire 60% stake in BigBasket

January 20, 2021
Chinese Billionaire Jack Ma Suspected Missing after Condemning the Chinese Government.
News

Alibaba Share Surges after Jack Ma’s Resurfacing Video

January 20, 2021
Next Post
Microblogging App Koo- Next Big Brand

Vokal Introduces New Microblogging App 'Koo' In 12 Indian Languages

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Relinace Jio Market Value-nextbigbrand.in

Reliance Jio Adds 85.39 Lakh Subscribers, Tops Subscription Chart

1 year ago
paytm mall logo

PayTM Mall Rumored to Close Down Its e-commerce Business

2 years ago
tea garden - NextBigBrand

Tea at ₹75,000 a kg: ‘Golden Butterfly’ variety fetches record price

1 year ago
Netflix Subscription Plans- Next Big Brand

Netflix Tests Long Term Subscription Plans In India After Mobile Plans

1 year ago

FOLLOW US

  • 22.4k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Indigo Paints: Colorful journey of a Lesser Known Paint Brand
  • LifeStyle Video App Trell Starts Social Commerce for its User Base
  • Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery

Instagram

Follow Me!

Latest News

Indigo Paints: Colorful journey of a Lesser Known Paint Brand

Indigo Paints: Colorful journey of a Lesser Known Paint Brand

January 22, 2021
LifeStyle Video App Trell Starts Social Commerce for its User Base

LifeStyle Video App Trell Starts Social Commerce for its User Base

January 22, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.