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India’s national carrier Air India has announced a 25% to 50% cut in the productivity linked incentives of its employees.
The decision was taken at a board meeting of the carrier held in New Delhi.
Air India has mentioned that the cut will be with effect from the August salary for about 7,000 officers including top management personnel.
The 25% cut will be applicable for those receive a maximum incentive of Rs.10,000 whereas for those who receive PLI or flying related allowances of Rs.200,000 or more per month will have to face a cut of 50%.
The cut for those receiving incentives of Rs.10,001-25,000, Rs.25,001-50,000 and Rs.50,001-200,000 will be 35, 40 and 45 percent respectively.
The latest move is part of a series of cost-cutting measures initiated by Air India in the past few months intended to tackle the financial crunch gripping the carrier.
