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Willie Walsh, CEO of UK flagship airline British Airways has come up with a novel solution to reduce costs for a company hit hard by the economic crisis, reports The Times. Faced with a €480 million loss for 2008, BA’s biggest in 25 years, he has called on the company’s 40,000 staff to work without pay for up to a month. Wishing to lead by example Mr. Walsh has announced he will forgo his July salary of €73,000, six times greater than what a cabin crew member earns in an entire year. Unsurprisingly, unions “reacted angrily yesterday (…) in what the airline’s chief executive called a ‘fight for survival.’” Meanwhile, Mr Walsh has set a June 24 deadline for volunteers wishing to share in his sense of sacrifice. “We are treating it like a joke,” one employee has remarked.
A conversation with investigative reporters Stefano Valentino and Giorgio Michalopoulos, who have dissected the dark underbelly of green finance for Voxeurop and won several awards for their work.
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