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Edtech unicorn Unacademy has announced that it will be cutting down Unnecessary Expenses so that t...
Qantas Airways is temporarily idling about , employees without pay for at least two months in a ...
Schindler reports lower revenue and profit for H announces cost optimization program On Frida...
MakeMyTrip restores salaries as business starts to revive gradually MakeMyTrip, a leading online travel company, has started restoring salaries of employees with a revival in business three months after announcing pay cuts, said Rajesh Magow Group CEO. According to an ET Report, MakeMyTrip said that following “a few weeks of business coming back,” the company decided […]
Several board members of engineering and construction giant Larsen & Toubro took voluntarily steep pay cuts in their salary in FY20 due to the COVID-19 Pandemic and its adverse impact on business. L&T Chairman A M Naik took a 24 percent pay cut. L&T CEO and MD SN Subrahmanyan took a pay cut of 43.91 percent L&T CFO […]
IndiGo, India’s private airlines, has announced today to lay off 10% of its workforce due to COVID-19 pandemic, CEO Ronojoy Dutta said. “From where things stand currently, it is impossible for our company to fly through this economic storm without making some sacrifices, in order to sustain our business operations,” Dutta said in a statement. […]
The salary cuts at Tata Group, approximately 15-20 percent, only for senior roles, Vice President level and above Tata Sons and the group companies are exploring 15-20% salary cuts for the senior management to optimize costs as the coronavirus outbreak hits businesses across the group. The decision was taken at the Tata Sons’ board meeting […]
GMR Group cuts employees’ salaries by up to 50% due to Covid-19, The reduction in compensation is maximum at the highest level. Battling against COVID-19 pandemic, diversified conglomerate GMR Group has revised downwards employees’ salaries by up to 50 percent with effect from May 2020. The reduction in compensation is maximum at the highest level. The Bengaluru-based […]
On 23 May 2020, Two-wheeler manufacturer TVS Motor Company has announced to cut the salaries of its employees starting this month, May 2020, as it grapples with a steep fall in sales, common across the industry. Though the company has clarified there will be no salary reduction at the workmen level. The company’s CEO, KN […]
Tata Group top execs to take up to 20% salary cut in an effort to conserve cash For the first time in the Tata Group’s history, Tata Sons chairman N Chandrasekaran and Tata Group companies’ chief executive officers (CEOs) will take around a 20 percent compensation-cut in an effort to reduce the cost to tide over […]
TCS top management takes pay cut in financial year 2020 to conserve cash amid Covid-19 Tata Consultancy Services (TCS) has said in an annual report, Chief Executive Officer, Rajesh Gopinathan’s remuneration shrank 16.5% to INR 13.3 crore in 2019-20 compared to the previous fiscal. Gopinathan’s pay package is 214.65 times the median salary of TCS. In […]
