Jetwing Hotels, one of the leading hospitality brands in Sri Lanka, has announced a pay cut ranging from 10% to 50% across all employee grades to cushion the financial impact from the new coronavirus (COVID-19) pandemic.
In a memo to the Jetwing team, the company has said that the COVID-19 pandemic had taken an immense toll on the economic growth forecasts of the country and especially the tourism industry.
“As such we are expecting no occupancy and revenue in the upcoming months,” the memo signed by Jetwing Head of HR Kanchana Nanayakkara said.
It was pointed out that the management was reluctantly compelled to take the difficult decision of enforcing a downward payment revision across all levels of employment. “This was a tough decision to take but one that will safeguard associates of the Jetwing family,” the memo added.
The pay cut doesn’t impact those earning below Rs. 15,000 while it ranges from 10% upwards for those getting above Rs. 15,000 and 50% for those getting Rs. 500,000 and above.
(FT)