Cathay Pacific to cut staff bonuses
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Cathay Pacific Airways is cutting year-end bonuses for its Hong Kong-based staff, Bloomberg has reported. Workers will get half a month’s salary or HK$8,000 (US$1,000), whichever is greater, rather than a full month’s payout, the carrier reportedly said in an e-mailed statement yesterday. Next year, Hong Kong-based staff’s pay will rise by an average of 2%, it added.
“The financial health and well-being of the company is our paramount objective, and we will have to take whatever steps are necessary to secure and protect this,” Chief Executive, Tony Tyler, said in the statement.
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