JetBlue CEO latest to suffer with industry
JetBlue reported $7 million quarterly loss last week, and CEO David Barger wants to show he, too, feels the pain. He’s cutting his base salary in half — instead of $500,000, he’ll be getting $250,000 (though the cut only applies to the six months from now till the end of the year, according to regulatory filings). He says he’s taking the reduction to “show solidarity with employees as the low-cost carrier struggles with soaring fuel prices and a slowing U.S. economy.”
According to Bloomberg News, Berger is at least the thiird CEO at one of the 10 largest U.S. airlines to cede pay in the face of record fuel prices and industry-wide job cuts.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.