Two Wheeler Manufacturer Bajaj Auto go for a Pay Reduction

Sources at the Bajaj Autos says that the company is currently not looking for termination of the employees at this stage. But as per the sources, the Bajaj Autos HRD has circulated the email to the employees and wrote:

"Effective April 15, we are therefore deliberating implementing a pay reduction in monthly fixed gross across all levels until the lockdown is lifted. Our Managing Director has taken the lead and decided that should this be implemented he will not be taking any pay during this period".

"Many companies, including organizations in our Industry, have already announced and/or are contemplating various cost control measures including job reductions, salary/bonus reductions, freezing capex, cutting marketing budgets and other stringent measures to sustain. While our financial position allows us to avoid drastic measures, we do need to be prudent and take measured steps to control our fixed operating costs urgently".

"As an organisation, we are extremely sensitive to the welfare of our employees and hence we will minimize the impact to our employees as much as possible"

As per the sources, the workers union is also supported the company's move for reduction in salaries during lockdown period.

Source: CNBC-TV18

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