Categories: Business

TVS Motor to cut staff salaries for six months | TVS Motor cuts temporary wages of employees, salary will be reduced by 15 to 20 percent


TVS Motor to cut staff salaries for six months

new Delhi. TVS Motor Company has announced a reduction of up to 20 percent in the salaries of its employees for a period of six months due to the Corona virus epidemic. The company has decided to cut pay at the executive level from May to October this year, excluding the initial level employees.

A spokesperson for TVS Motor Company said that in view of the unforeseen crisis, the company has made temporary cuts in pay at various levels for six months (May to October, 2020). The spokesman said that there will be no cut in the wages of those working at the labor level.

The spokesperson said there would be a 15 to 20 percent pay cut at the senior executive level, while a five percent salary at the junior executive level would be reduced. TVS Motor Company is the third largest two-wheeler company in the country. Earlier, the company said that it has resumed operations at all its manufacturing plants across the country on 6 May. The company has four manufacturing plants. Three of these are in India (Hosur in Tamil Nadu, Mysore in Karnataka and Nalagarh in Himachal Pradesh) and one is in Karwang, Indonesia.

This post was published on May 26, 2020 5:02 pm

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