Budget carrier SpiceJet has decided to cut 10-30 percent salary of all its employees in March, with Chairman Ajay Singh opting for highest 30 percent trimming in compensation, the airline said in an e-mail communication to the staff on Tuesday.
"SpiceJet management has decided to implement a pay cut between 10-30 percent in March across our employee base. Our Chairman and Managing Director (Ajay singh), in fact, has opted for the highest cut of 30 percent in compensation," the airline said in the communication.
Other budget carriers IndiGo and GoAir have already announced similar move earlier.
"These are extremely tough time and call for appropriate and exceptional measures to sale through the exceptional challenge," it said.
As tough as it seems, most Indian carriers have already announced a pay cut for their employees, SpiceJet said.
"Unfortunately SpiceJet is not too immune to the situation which has unquestionably affected the airlines in the most severe form across the globe.
"Therefore in our bid to stay lean, and under absolutely unavoidable circumstances, we have been forced to take certain bold decisions, which will help the SpiceJet family surmount these difficult times," the letter said.
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