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Source: ONE News -
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Air New Zealand on Monday announced a pay freeze on all staff earning more than $80,000.
In a memo to staff on Friday CEO Rob Fyfe said his goal was "to do everything I can to minimise the risk of job losses," in the wake of the economic recession.
The freeze will affect just under 10% of Air New Zealand's 11,000-strong workforce. While those on lower incomes have escaped a full freeze, from July 1 limits will be placed on how much extra managers can dish out.
Raises will have a 2.5% average limit for those earning up to $50,000, a 2% average limit for those on $50,000 - $70,000 and a 1% average limit for those earning $70,000 - $80,000.
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