India Inc's senior management sees a salary decline in FY202 min read 30 Aug 2020, 06:48 PM IST
Companies have reduced fixed costs, especially high staff expenses as profitability and sales took a hit in March quarter. In this period, companies used a combination of retrenchment and pay cuts along with hiring freeze to control costs
MUMBAI: Covid-19 related disruptions and resulting impact on businesses adversely impacted senior management remuneration of India's largest companies. Data showed that India’s biggest firms have slashed salaries for their top executives in FY20 amid cut in expenses, lower profitability and cost rationalisation across sectors. In some cases, the drop was as high as 44%.
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