CHICAGO, Dec 8 (Reuters) - JetBlue Airways JBLU.O unveiled a collection of value saving measures on
CHICAGO, Dec 8 (Reuters) – JetBlue Airways JBLU.O unveiled a collection of value saving measures on Tuesday, together with halting pay raises and paid parental depart, in a transfer it mentioned would keep away from furloughs by means of at the very least Sept. 30 because it continues to battle the pandemic.
New York-based JetBlue mentioned value reductions, which additionally embody pay cuts for prime executives into 2021 and the cancellation of large-scale firm occasions, had been vital amid an unpredictable 2021 adopted by years of paying again debt it took on to climate the coronavirus disaster.
“We’re finalizing subsequent yr’s finances now and there’s no doubt it will likely be essentially the most difficult in our historical past,” Mike Elliott, JetBlue’s chief individuals officer, advised workers in a memo obtained by Reuters.
The main points of the memo had been first reported by CNBC.
JetBlue didn’t remark.
The airline is planning for income to be billions of {dollars} decrease than typical, Elliott mentioned.
“As we get into 2021, we could have higher visibility into what we have to do to proceed defending jobs past September,” he mentioned.
(Reporting by Tracy Rucinski; modifying by Jonathan Oatis)
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