The novel coronavirus outbreak has pushed the entire world to witness a pandemic, circulating waves of panic across the globe. Due to uncertainty in business owing to the current scenario, businesses are slowing down bringing the growth of the economy to a halt. There has been a sudden slow-down of the economic activities at an unparalleled scale globally, raising the number of job losses and salary cuts.
In the wake of the current scenario, owing to the pandemic, software company IceWarp’s CEO for India & Middle East Pramod Sharda has decided and announced to take a 100% pay cut for the rest of the year safeguarding the employees of the company and promising no salary-cuts or layoffs.
Commenting on the same, Pramod Sharda, CEO, IceWarp India & Middle East said, “The Coronavirus outbreak has affected numerous aspects of our living, however, we at IceWarp believe, every employee to be an asset and safeguarding them is a necessity. To overcome such a critical period as a cohesive team, we have devised a strategic plan of operations and to begin with, I, myself have decided to take a 100% salary cut for the balance of 2020 in order to avoid layoffs.”
“At IceWarp, the security of our employees is of utmost priority, considering the fact owing to security concerns even after the lockdown period, we will be emphasizing to continue WFH till the time we feel the situation is better,” added Sharda.
Sharda now joins the likes of several top executives of various global firms who have opted for pay cuts and gave up on their compensation packages for the year to save the organization’s cost.
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