BA chiefs take a 10 per cent pay cut

first_img Comments are closed. BA chiefs take a 10 per cent pay cutOn 2 Oct 2001 in Personnel Today Previous Article Next Article British Airways has cut senior management pay by 10 per cent in a drasticmeasure to shore up losses sustained following the terrorist attacks in NewYork. The move, which will affect about 600 staff, is expected to save the airline£2m between now and the pay review at the end of the financial year. The leadership team, including chief executive Rod Eddington and 12executive directors, have taken a 15 per cent pay cut. The cuts come as BA announced plans to slash services worldwide as a resultof the fall in passengers since 11 September. Last week BA announced 7,000 joblosses. Eddington said, “Taking a pay cut is the right thing for the mostsenior people in the business to do at this time. It is part of theircontribution as leaders in helping BA through this most difficult ofsituations.” Alistair Hatchett, editor of Incomes Data Services Reports, said. “BAis in the extremely unusual circumstances of facing a huge black hole ofbusiness loss and trying to deal with that.” Related posts:No related photos.last_img read more