Covid-19: JK Tyre leadership team takes pay cut

JK Tyre and Industries on Tuesday said its leadership team has decided to take a pay cut due to difficult business hit by coronavirus pandemic. “Presently, we are witnessing unprecedented difficult times, with both sales and profitability getting impacted due to coronavirus,” JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said in a statement. “Chairman and whole-time directors have taken a voluntary cut in their salary of 25 per cent and other senior management personnel have also taken a voluntary reduction in their salary by 15-20 per cent,” Singhania said. Pay cut also applies to company’s global operations, he added.