Philippine low cost airline Cebu Pacific announced its senior management will be taking pay cuts to avoid staff layoffs as it joins other global airlines contending with the weaker travel demand due to the ongoing Coronavirus (COVID-19) outbreak.
According to reports from local media outlets, the pay cuts are voluntary which has been reported to be around 10% pay cut.
“It’s the least that can be done given the challenging situation and it’s the right thing to do,” Cebu Pacific Charo Logarta-Lagamon confirming the reports of the pay cuts.
Owned by Philippine conglomerate JG Summit, Cebu Pacific has around 4000 employees. It has recently seen lower travel demand and the reduction/suspension of flights from the Philippines to destinations in China, Hong Kong, and Macau.