Air India asks senior officials to forego July pay

June 19th, 2009 - 8:19 pm ICT by IANS  

New Delhi, June 19 (IANS) Cash-strapped Air India Friday asked its top executives to forego their salary for July, a spokesperson of the national carrier said here Friday.
“The top management needs to indicate to all employees in the organisation that every single paisa which can be saved needs to be saved,” said Air India chairman and managing director Arvind Jadhav in an internal memo addressed to senior executives.

Corporate directors, strategic business unit heads, executive directors and general managers have been asked to take the pay cut.

“As a gesture to ease the liquidity crunch, Jadhav requested all executives above the level of general manager to voluntarily forego salary and productivity linked incentives payable in the month of July,” said a company statement Friday.

Earlier this month, Air India had decided to defer the payment of salaries for July and productivity-linked incentives by 15 days, leading to protests by its labour union.

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