Vistara announces compulsory leave without pay of up to 3 days for senior employees

By: |
Published: March 27, 2020 7:08 PM

The compulsory no pay leave will affect around 1,200 employees in senior grades. The remaining 2,800 employees of the airline such as members of cabin crews and ground handling services will be unaffected.

Thng said the annual salary increment exercise for all eligible staff will be deferred from April to July 1 and an appropriate decision shall be taken then.Thng said the annual salary increment exercise for all eligible staff will be deferred from April to July 1 and an appropriate decision shall be taken then.

Vistara CEO Leslie Thng on Friday announced senior employees will be going on compulsory leave without pay of up to three days as a measure to further reduce the airline’s cost amid the coronavirus lockdown.

The compulsory no pay leave will affect around 1,200 employees in senior grades. The remaining 2,800 employees of the airline such as members of cabin crews and ground handling services will be unaffected.

“While we are doing all possible, including a recruitment freeze, we have to look at other means to further reduce our cost,” Thng said in his email to employees, which has been accessed by PTI.

“Therefore, for the period 1st Apr to 14th Apr 2020, all staff (except for staff in Level 1A and 1B) will be required to go on a few days of Compulsory No Pay Leave (CNPL) as follows: Staff in Level 4 and 5 to go on three days CNPL, Staff in Level 2 and 3 to go on two days CNPL, Staff in Level 1C to go on one day CNPL,” he said.

Thng said the annual salary increment exercise for all eligible staff will be deferred from April to July 1 and an appropriate decision shall be taken then.

“For staff in Level 2 and above, the annual pay-out for Variable Performance Pay (VPP) will be deferred to July 2020,” he said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Yes Bank fixes floor price band at Rs 12-13/share for FPO
2Bajaj Finance rating ‘neutral’ – fall in moratorium rate welcome surprise
3Partial relief for industries during 10-day Aurangabad lockdown