May 22, 2009
British Airways chief executive Willie Walsh will work without pay in July as part of a cost-cutting drive that has seen 2,500 staff leave the airline in the past year.
The airline, which earlier on Friday unveiled record losses and said it saw no signs of market improvement, is offering workers the option of taking unpaid leave or working part time.
"This is no stunt," Walsh said in a statement. "I want to make a contribution in recognition of the extremely challenging position we face."
Walsh earns GBP735,000 pounds (USD$1.16 million) a year. Finance Director Keith Williams will also lose a month's salary.
(Reuters)
British Airways chief executive Willie Walsh will work without pay in July as part of a cost-cutting drive that has seen 2,500 staff leave the airline in the past year.
The airline, which earlier on Friday unveiled record losses and said it saw no signs of market improvement, is offering workers the option of taking unpaid leave or working part time.
"This is no stunt," Walsh said in a statement. "I want to make a contribution in recognition of the extremely challenging position we face."
Walsh earns GBP735,000 pounds (USD$1.16 million) a year. Finance Director Keith Williams will also lose a month's salary.
(Reuters)