IndiGo slashes salaries again, CEO Ronojoy Dutta takes 35% cut

A week after announcing layoffs, IndiGo is now implementing the second round of pay cuts, with CEO Ronojoy Dutta taking a 35 percent trim in his salary.

Dutta, in a mail to employees, said the cuts are necessary to adjust the airline's cost structure to the decline in revenues.

While the CEO is taking a cut of 35 percent, senior vice presidents will see their salary reduce by 30 percent. The cut for pilots is 28 percent, for Vice Presidents 25 percent and 15 percent for associate vice presidents.

Apart from the pay cuts, each department has been asked to take a monthly decision on the number of employees to be sent on leave without pay.

This is the second round of pay cuts, after the first one in May. Dutta had then taken a cut of 25 percent.

Earlier in the month, IndiGo had announced the layoff of 10 percent of its employees.

"And from where things stand currently, it is impossible for our company to fly through this economic storm without making some sacrifices, in order to sustain our business operations," Dutta had said.

As of March 2019, IndiGo had 23,531 employees.

Source: https://www.moneycontrol.com

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