India’s third largest two-wheeler manufacturing company, TVS Motor Company recently announced that it has decided to cut employees salaries for a six month period due to the decline in revenue amid the coronavirus lockdown. The company’s Chief Executive Officer KN Radhakrishnan communicated the decision to employees on May 23. With the recent announcement, TVS becomes…
In times when companies are laying off employees and reducing salaries, Asian Paints has said that it will go ahead with annual increments. In an attempt to boost employee morale and strengthen the bond with its employees, the company has decided to not lay off any employees and give them their annual salary raise. Citing…
India’s largest airline in by market share, IndiGo recently announced that it is now proceeding ahead with salary deductions for employees from May onwards. The company Chief Executive Officer, Ronojoy Dutta also said that the carrier is implementing a “limited, graded leave without pay program” for the months of May, June, and July. The airlines…
Palo Alto, Calif.-based VMware has recently confirmed that it has taken several cost-cutting measures affecting its workforce amid the coronavirus pandemic. According to an internal memo, the company said it is conducting a company-wide employee salary freeze as well as temporary salary reductions for top executives, including CEO Pat Gelsinger, due to the uncertainty of…
Budget-carrier Vistara recently announced that it has asked its senior employees to take compulsory unpaid leaves for upto four days in the months of May and June. In an attempt to sustain their businesses and prevent cash-burn the airline’s CEO Leslie Thng announced the decision to cut down employee-related costs. “For the month of May…
Since the imposition of nationwide lockdown by the Indian government, layoffs and furloughs have become a piece of common news. In an attempt to tide over the crisis erupted due to the coronavirus pandemic and subsequent lockdown, businesses have been resorting to tough measures to prevent cash burn. The Government of India had imposed a…
IT company Tech Mahindra recently announced that it is putting a hold on incentives and wage hikes amid the coronavirus pandemic. As the coronavirus outbreak disrupts operations worldwide, the company is not looking at any clarity on business. However, the company said that its junior associates will still get their full remuneration packages. Talking to…
In an attempt to promote employee welfare and the company’s relationship with dealers and franchise owners, Bharti Airtel will reportedly pay the April month salary of nearly 25,000 employees belonging to its dealers, distributors and franchisees. According to a report by Mint, the company has told its partners to pay their employees full salaries for…
The airline industry has long been in soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt to…
In an attempt to promote employee welfare, French IT services giant Capgemini has recently announced that it has given a single-digit salary hike to 70 percent of its employees in India, effective April 1, 2020. The move will benefit the company’s 84,000 employees of its 1.2 lakh Indian workforce. The company has also said that…
COVID-19 has impacted the global hospitality industry significantly with occupancies of various hotel chains being affected drastically. Many Indian startups in the segment are slashing salaries across levels to conserve cash and extend their runway. Indian hospitality unicorn OYO Hotels & Homes is no different than these startups affected by the pandemic. The Ritesh Agarwal-led…
Indian travel and hotel booking platform Ixigo has recently slashed the salaries of its employees across all levels in an attempt to save cash burn due to the coronavirus pandemic. The company Co-founder and CEO, Aloke Bajpai said that the top management has agreed to take a 60% pay cut while the rest of the…
With annual appraisals around the corner, employees are eagerly waiting for their salaries to reflect their wishes. Many might have even planned a thing or two for the additional salary they will be getting. Annual appraisals are one of the most motivating factors for employees. A lot in their personal lives and the course of…
The closer you are to the activities and decisions that directly impacts an organisations growth, success, or value creation – the more valuable you are. What enables you to claim top of the line compensation? A big hearted employer, a cool boss, your ability to deliver and get things done, or just some good luck.…