Two-wheeler maker TVS Motor Company has announced a salary cut for its staff.
“In the wake of the unprecedented crisis, the company has rolled out a temporary salary reduction across different levels for six months (May to October 2020 ) ,” said a company spokesperson.
There will be no salary reduction at the workmen level. However, there will be a 5 per cent cut at the junior executive level and 15-20 per cent at the senior management level.
“It was heartening to see employees coming forward and offering to take salary reduction voluntarily,” said the spokesperson.
TVS Motor Company restarted operations after the lockdown on May 6 across all its factories, in Hosur, Mysuru and Nalagarh.