7/1, 9:15 AM (Source: TeleTrader)
more TeleTrader news

Ryanair to offer pay cuts instead of some job losses

Ryanair CEO Michael O’Leary said on Wednesday that the low-cost airline will try to avoid some of its planned job cuts by offering employees pay cuts instead of firing them amid the coronavirus crisis.

"We’ve already announced about 3,500 job losses but we’re engaged in extensive negotiations with our pilots, our cabin crew and we’re asking them to all take pay cuts as an alternative to job losses," O'Leary told the BBC and stressed that "best-paid captains" will be asked to take a 20% pay cut, while "lowest-paid flight attendants" will be offered a 5% reduction in earnings. However, he stressed that "most but not all job losses" may be avoided.

In May, over 250 Ryanair employees were laid off across Europe and the airline announced it is considering 3,000 more job cuts.

Breaking the News / NP