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Japan Airlines Co. plans to cut this year s winter bonus by 80% from the year-before level. | KYODO
Jiji Nov 13, 2020
Japan Airlines Co. plans to reduce this year’s winter bonus for employees by 80% from the previous year’s level due to the firm’s sharply deteriorating earnings traced to a plunge in travel demand amid the novel coronavirus pandemic.
JAL notified its labor union of the reduction on Thursday. The airline’s winter bonus will be equivalent to half a month’s wages, down from 2.5 months a year before.
Protect jobs no matter what, past saviour of Japan Airlines says theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Protect Jobs Regardless, Past Savior of Japan Airlines Says
Bloomberg 12/23/2020 Shiho Takezawa and Masatsugu Horie
(Bloomberg) No matter how hard Covid-19 squeezes its finances, Japan Airlines Co. must stick to a philosophy of preserving jobs and keeping workers happy, according to its former assistant chairman Yoshihito Ohta, who played a key role in the company’s turnaround from collapse a decade ago.
Like most carriers around the world, Japan Airlines has been floored by the pandemic. It forecasts losses of as much as 270 billion yen ($2.6 billion) this fiscal year, its first slide into the red since emerging from one of the country’s biggest-ever bankruptcies. Rival ANA Holdings Inc. also warned of a record loss and both have turned to subordinated loans and new share sales for support.
Dec 23, 2020
No matter how hard COVID-19 squeezes its finances, Japan Airlines Co. must stick to a philosophy of preserving jobs and keeping workers happy, according to its former assistant chairman Yoshihito Ohta, who played a key role in the company’s turnaround from collapse a decade ago.
Like most carriers around the world, Japan Airlines has been floored by the pandemic. It forecasts losses of as much as ¥270 billion this fiscal year, its first slide into the red since emerging from one of the country’s biggest-ever bankruptcies. Rival ANA Holdings Inc. also warned of a record loss and both have turned to subordinated loans and new share sales for support.