Latin America's largest airline to halve pay for its 43,000 employees
LATAM Airlines Group will cut pay to its 43,000-strong workforce by 50% for 3 months due to economic fallout from the coronavirus outbreak, a source close to the situation told Reuters Thursday. The pay cuts will affect employees worldwide, but LATAM's operations are concentrated in Chile and Brazil. The company's incoming CE, Roberto Alvo, will also forego his entire salary. Also Thursday, Gol Linhas Aereas Inteligentes said it will cut worker pay by 35%, and executive pay by 40% for 3 months "initially." LATAM has said it will cut 70% of its flights as countries in Latin America have shut down their borders to air travel and demand has plummeted. Gol has slashed its flights by 50%, but it is much more focused on domestic flights which have not seen as much disruption as international flights. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-20/oneworld/latin-americas-largest-airline-to-halve-pay-for-its-43-000-employees
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Latin America's largest airline to halve pay for its 43,000 employees
LATAM Airlines Group will cut pay to its 43,000-strong workforce by 50% for 3 months due to economic fallout from the coronavirus outbreak, a source close to the situation told Reuters Thursday. The pay cuts will affect employees worldwide, but LATAM's operations are concentrated in Chile and Brazil. The company's incoming CE, Roberto Alvo, will also forego his entire salary. Also Thursday, Gol Linhas Aereas Inteligentes said it will cut worker pay by 35%, and executive pay by 40% for 3 months "initially." LATAM has said it will cut 70% of its flights as countries in Latin America have shut down their borders to air travel and demand has plummeted. Gol has slashed its flights by 50%, but it is much more focused on domestic flights which have not seen as much disruption as international flights. <br/>
