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Thai Airways was repeatedly injured on May 25. Management has cut wages for another month, speeding up the burden of salary expenses of up to $ 1.1 billion per month during the crisis.
Mr. Nares Phuengyam, President of the Thai Airways State Company Workers Union, said that on May 25, Thai Airways will hold a meeting of the State Company Labor Relations Committee, a joint forum between senior management and representatives of the Thai Airways State Company Workers Union. Consider the situation regarding the salary and well-being of Thai Airways employees during the time the company encountered a problem. In the past, management granted employees a 2-month leave from April 4 to May 31, 2020, along with an average pay cut of 10-50%. The union is ready to request progress. When solving company problems, as well as guidelines for all employees to be informed
Thai Airways International Public Company Limited news reports reported that at this meeting Management is preparing to propose an extension of the salary reduction and compensation of 1 employee for a total of 3 months, which is from April 4 to April 31. June 2020, previously announced. The salary has been reduced for 2 months, which is from April 4 to May 31, 2020.
To accelerate spending on employee wages, the company currently has to pay an average of 1.176 billion baht per month. Thai Airways does not have a full income to nurture the organization.
In addition, management may also request to increase the salary reduction rate from the current announcement of the reduction to an average rate of 10-50%, decreasing according to low to high positions. However, having to wait for consideration at the meeting that union representatives will agree or disagree
News reports continued that the reason management is preparing to cut wages for another month is because it wants to use the cut rate as the salary expense paid to employees in the coming month. So employees can still have income to take care of their own living expenses while the company is accelerating to resolve the debt burden
As a result of the first two months of salary reductions, from April 4 to May 31, 2020, Thai Airways is expected to have enough money to pay employees’ wages again for another 2 months until the end of the month. Starting in 2020, when the liquidity of the salaries of the company’s employees will expire in May 2020.
“The resolution of the company’s debt is continued by the policy and administration department. At this time it is not 100% clear what type it will be. But for the attentive staff of more than 2.1 thousand vehicles, it is a duty. The State Company’s Labor Relations must also act in parallel to avoid recurring problems. Who knows that now? Management has tried to negotiate with creditors to further extend the repayment period. To keep the company more liquid. the condition that Thai Airways cannot find additional income If the creditor agrees to help the exemption It can reduce pressure on personnel costs. “
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