The Management of NDTV group has been forced to implement salary cut, effective April 1, of between 10-40% It has decided not to implement salary cuts for employees who earn 50,000 rupees per month or less
Measures have been taken due to the impact of decreasing advertisement revenue accelerated by onset of COVID-19 pandemic.
Here’s the official statement:
Amid the coronavirus lockdown, a lot of big companies laid off employees and many of them have to bear huge salary cut due to impacted advertising business.
The country is currently facing the wrath of pandemic coronavirus due to which The nationwide tally of confirmed infections crossed 20,000 with new cases reported from various states and the death toll crossed 600, the Union Health Ministry officials said.
Earlier, Softbank Group-backed OYO Hotels and Homes has cut the salaries of all employees by 25 per cent for four months starting April and also sent some of its people on leave with limited benefits, according to an internal memo seen by Reuters.
The move comes soon after OYO furloughed thousands of its international employees earlier in April after the coronavirus outbreak brought global travel to a halt, wreaking havoc in the hospitality sector.
