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.
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 […]
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 […]
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According to the report, the sides are discussing withholding up to 25 percent of players’ remaining salaries in a league escrow, allowing for the players and owners to share in some of the financial loss should the league not complete a full, 82-game regular season.
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.
Sharing the wealthThe best teams in the league are top-heavy when it comes to salary, but there is a large group of teams staying competitive with a much more balanced payroll. The Miami Heat, owners of the eighth-best record in the NBA, have six players making $10 million or more, while the Nuggets, Pacers and […]
“It’s up to the worker – if she doesn’t live at her workplace she doesn’t have to start, if she lives there and wants to leave and not go into quarantine there she can. The decision is absolutely hers.” (Reporting by Aislinn Laing and Natalia Ramos, additional reporting by Nelson Bocanegra in Bogota and Gram […]
“With the temporary postponement of our season and the impact of the coronavirus is having on every part of our business, we will have to adjust our operations in several significant ways,” the statement reportedly reads. “We are trying to minimize expenses until we can get back to doing what we do best – holding […]