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.
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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 […]
The founders would be taking a total salary cut, the bike rental startup said. Another scooter rental firm Vogo had also cut staff in December, but has denied any layoffs or pay cuts so far due to the ongoing Covid-19 crisis. Both Bounce and Vogo saw a 10-15% drop in ridership in March. Big.Jobs’ data […]
“Our non-profits are also under tremendous pressure. I am donating to the following five organizations who are helping in every region of Ohio: the Cleveland Foundation COVID-19 Rapid Response Fund, the Columbus Foundation Emergency Response Fund, the United Way and Greater Cincinnati Foundation COVID-19 local nonprofit fund, the Southeast Ohio Food Bank, and the Greater […]
“As we navigate through these uncharted waters, we’re asking much of you and, as always, you are rising to the challenge and we appreciate your support,” he wrote. “Your dedication and resilience during this difficult time are truly inspiring and it gives me a renewed confidence that will we come through this crisis even stronger […]
Because of the ongoing coronavirus pandemic, the MLB season is on hold, and it’s not yet certain when — or if — Opening Day will finally arrive. The MLBPA and owners, however, did recently hammer out an agreement that ensured players will be paid, at least for the time being. That news and the worldwide […]
Suzuki Motorcycle CFO’s comments came in the backdrop of Prime Minister Narendra Modi urging India Inc to not cut salaries or wages of its employees and workers during the lockdown times.This marks the second week of the 21-day lockdown which began March 25. Companies including Suzuki Motorcycle and others have shut down their operations across […]