Salary Cut

Kotak Mahindra Bank declares 10% pay cut for staff with over Rs 25 lakh annual salary

Private sector lender Kotak Mahindra Bank has decided on a 10 percent pay cut for the employees earning above Rs 25 lakh per annum, in a business sustainability move amid the COVID-19 pandemic, according to a communication

Coronavirus Pandemic: RIL chairman Mukesh Ambani to forego salary, board members to take pay cut

Reliance Industries chairman Mukesh Ambani will forego his salary in the wake of the coronavirus pandemic that has gripped the nation and forced a lockdown in the country until 3 May

Coronavirus Outbreak: Berger Paints says no plan for retrenchment or salary cut during pandemic crisis

Berger said it has decided against any involuntary furloughs or organisational restructuring that may lead to downsizing of headcount and consequent loss of livelihood during the time of widespread uncertainty.

IndiGo rolls back pay cut in April salary of employees in deference to govt's wishes

IndiGo CEO Ronojoy Dutta told employees on Thursday that the airline has decided to roll back the pay cuts, which were announced earlier for senior staff members, for the month of April in deference to the "government's wishes"

OYO asks some India employees to go on leave with limited benefits, cuts fixed pay of all by 25%

OYO on Wednesday asked some of its staff in India to go on leave with limited benefits from 4 May for four months, and also asked all employees in the country to accept a cut in their fixed salaries by 25 percent due to the impact of the COVID-19 on the hospitality industry

Coronavirus Outbreak: Vistara announces compulsory leave without pay for up to 3 days for senior employees

Vistara chief Leslie Thng on Wednesday announced that senior employees will be going on compulsory leave without pay for up to three days between 15 and 30 April as a measure to further conserve the airline's cash flow amid lockdown to combat the COVID-19 threat

Coronavirus Outbreak: Goodricke Group MD, CFO opts for 60% cut in salary to control expenses

Premium tea maker Goodricke Group's Managing Director & CEO Atul Asthana and Wholetime Director & CFO Arjun Sengupta have opted to take a 60 percent cut on their respective salaries in the crisis arising out of the Covid-19 outbreak

Coronavirus Outbreak: SpiceJet to cut up to 30% salary of employees in March; lowest pay grade staff to remain unaffected

Budget carrier SpiceJet has decided to cut up to 30 percent salary of its employees in March with Chairman Ajay Singh opting for the highest 30 percent trimming in compensation, the airline said in an e-mail communication to the staff on Tuesday

Salary cut: Jet Airways pilots' union to meet management tomorrow

The Naresh Goyal-owned airline last month asked its junior pilots to take 10 days off every month (which implied 30 percent salary cut) as part of cost-saving measures.

Air India flight delays: Salary cuts as punishment is no solution, overhaul system instead

The latest move to cut salaries could set off internal resentment and bad blood among employees, who are already seething because of salary delays