With businesses halted, there are concerns that companies could resort to salary cuts and even retrenchment to contain costs. There have been reports that many businesses, including tech-led firms, have already rolled out pay cuts amid no business flowing in on account of the coronavirus pandemic.
Bengaluru: Startups have started laying off staff and, in some cases, asked employees to take pay cuts as they look for ways to weather the impact of the coronavirus outbreak, according to employees of various firms who spoke to ET. Companies, however, cited that such measures are mainly to keep businesses running as there is […]
HANOI (Reuters) – Vietnam Oil and Gas Group is cutting employee salaries to rein in costs as it grapples with low oil prices and a coronavirus pandemic that has infected 212 people in the southeast Asian nation, the company said on Wednesday.
New Delhi: Budget hotel chain FabHotels has laid off over 100 of its employees as a result of its ‘resource optimization’ exercise.According to an impacted employee, over 100 employees of the company are being laid off mainly from operations, tech, sales and supply acquisition teams. A letter by the company to a sacked employee said […]
“Yes, we have written to the owners of the premises seeking waiver of lease rent from March till at least May 2020. With likelihood of improvement being remote for several months, support from owners is very crucial for survival; it is most critical to manage cash flow and staff salaries,” said Anjan Chatterjee, founder of […]
The report also stated that if there is no plan in place by April 15, players will receive their full game checks, but they would have to pay the money back later should games be canceled, with the amount owed determined by a formula based on each player’s team and his own salary.
Monday morning’s meeting between club bosses, player representatives and NRL executives is expected to break the deadlock in player pay cut negotiations as the game explores all options to stay alive in the ongoing coronavirus turmoil.
Trying to understand the NBA salary cap can seem more complicated than sending an astronaut to Mars. That’s why every team employs multiple “capologists,” tasked with finding the best and most efficient ways to spend the organization’s resources. For some teams, that means grabbing a couple of superstars and making the most of their minimum […]
People affluent enough to travel abroad helped coronavirus get a foothold in Brazil, according to health officials, who worry it will swamp low-income communities where people do not have the kinds of work that allow them the luxury of staying in quarantine or access to the best healthcare.
As for the specifics of the cuts, the memo states that the salaries of series executives will drop around 25%, this includes the salaries of the presidents of NASCAR-owned tracks, while everyone else with a salary will lose about 20% of it. In addition to the salary cuts, the company has frozen budget expenses and […]