March 19, 2020 / 6:54 PM / 19 days ago

CORRECTED-LATAM Airlines to cut pay by 50% to its 43,000 employees

(Corrects day of the week to Thursday)

SAO PAULO, March 19 (Reuters) - LATAM Airlines Group , the continent’s largest carrier, will cut pay to its 43,000-strong workforce by 50% for three months, a source close to the situation told Reuters on Thursday, due to the coronavirus outbreak.

The paycuts will affect employees worldwide, but LATAM’s operations are concentrated in Chile and Brazil. The company’s chief executive will cut his pay by 100%, the source added. (Reporting by Marcelo Rochabrun, Editing by Franklin Paul)

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