Southwest Airlines has announced CEO Gary Kelly will take a 10% pay cut as fears about the spread of the coronavirus spread and airline bookings decline, the company said.
Southwest say Kelly sent an internal memo to employees on March 9 that focused on the financial crisis the coronavirus has imposed on the company and the entire airline industry.
In 2018 Kelly´s base salary was $750,000, but his total compensation neared $8 million. In addition to his pay cut, the memo is said to have outlined some of the other actions the airline is considering moving forward.
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