Business Standard
Monday, Nov 23, 2009
 
drived banner
drived banner
  Advanced Search
Feedback | RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Smart Portfolios II
  Search:

British Airways staff to work for free to tackle recession
Press Trust of India / London June 26, 2009, 9:05 IST

The British Airways has said that 7,000 of its employees have opted to take pay cuts while 800 will work for free as part of the company's measures to cut costs and deal with recession.     

 
 
Related Stories
News Now
-US economy shrinks 5.5% in first quarter
-Economic contraction is slowing, says US Fed
-Globally HNWI wealth to touch $ 48.5 trn by 2013: Survey
-UPDATE: Inflation rises marginally to (-)1.14 %
-'Govt to borrow more than planned in interim budget'
-Global recession close to bottoming out: OECD

The company said that 6,940 employees had volunteered for unpaid leave, part-time working or unpaid work by June 24, saving the company 10 million pounds.     

Willie Walsh, British Airways' chief executive, said: "This is a fantastic first response. I want to thank everyone who has volunteered to help us pull through this difficult period. This response clearly shows the significant difference individuals can make."     

The employees who opted to work without pay will still receive shift allowances and other payments, although they will forego their basic pay.    

Walsh himself will draw less salary in July, saving the company 60,000 pounds.     

However, employees unions have criticised the plans on the ground that its members could not afford to work for free.     

Mick Rix, a spokesman of the GMB union, alleged that the company was exaggerating the scale of the crisis.

Arrow Other Stories     
- Sensex ends up 130pts
- EADS executives testify in insider-trading case
- JSW Energy to open bids for IPO on December 7
- Microsoft, News Corp in talks on web content: report
- GE Healthcare's new initiatives to expand IT India biz
More  
  Read Business news in 
  Get financial advisory and solutions for your projects
  Holidays starting at a delightful EMI of Rs 3481
  Switch on and say hello to Monday morning !
  Your dream home can now be a reality.
  Visit Fortis for a preventive health check-up & get a 20% discount.
  Follow the ups and downs of your investments. Try our new Portfolio Tracker
  Kolkata Dock \ Freight contract for the British Gurkhas Nepal
  Find how Midsize Businesses use ERP to gain competitive advantage
  Trading in Forex is now as easy as 1-2-3
  Discover an economical and cost effective way to market your products and services
  Giftwithlove.com: Same day delivery of Flowers and Cakes to India
  Download the E-book on the Future of Business Intelligence
  Learn Best Practices for improving customer satisfaction
  Know your customers better... download the free e-book on CRM
   Discussion Board / User Comments    
Display Name  Email-Id  
Post your comment
J.N.Mahanty
AIR INDIA EMPLOYEES SHD EMULATE THEIR COUNTERPARTS IN BRITISH AIRWAYS: I wish, the misguided Employees of Air India learn a lesson from the employees of British Airways. When a Company is passing thru rough time, the loyal employees are expected to come up with suggestions like voluntary pay cuts, extended hours of working, etc to keep the Company afloat.
Reply
Most Popular
Read
E-Mailed
Commented
   
- IAF orders more Tejas LCAs to replace MiG-21s
- Suzlon shifts global HQ ops back to India
- Indian CIOs more progressive than global counterparts: IBM study
- Tata docomo extends per second billing to roaming
- India denied access to 11 of 16 US dual use technology regimes
 
 More  
BS Poll
Cast Your Vote
 
   
 
Should sugar prices be decontrolled?
  Yes  No
Submit

  Hot Searches  
 
Amitabh Bachchan | N Chandrasekaran | Swine Flu | Mukesh Ambani | Anil Ambani | TCS | Infosys |  Air India |  Duronto |  Pranab Mukherjee | Sonia Gandhi | Congress | Rahul Gandhi |  Bigg Boss |  New Pension Scheme |  Service tax |  Excise duty |  Sebi | Tech Mahindra |  Ramalinga Raju |  Satyam |  Reliance  |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  |  B-School | DLF  Sensex |  Tax calculator | Home Loan  | Bollywood | Personal Finance |  inflation | oil prices |  World Bank | Reliance Infratel |  HDFC |  Barack Obama  
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Site Map | Contact Us | Feedback