Recent Media Coverage

2020-03-24 / HFE Team

Coronavirus pandemic: Experts urge India Inc to avoid layoffs, pay cuts for faster recovery

With the coronavirus pandemic threatening a sharp economic slowdown, experts are suggesting companies to adopt a humane approach in rationalising their expenses without going for across-the-board pay cuts or freezing of hikes to ensure a faster recovery from the slump.

While contract employees in many sectors, especially those in the manufacturing space, are already losing their daily wages due to a lockdown of plants and various other commercial establishments, several companies are said to be planning pay cuts or at least freezing of hikes due from the next month.

However, experts are of the view that it is the time for India Inc to send across a long-lasting message and it is their duty to provide a sense of security to their workforce by retaining their existing staff members and that can be achieved as any fresh hiring is anyway unlikely to happen at the time.

Read full coverage here - Coronavirus pandemic: Experts urge India Inc to avoid layoffs, pay cuts for faster recovery

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