Cutting of Salaries in Indian Companies - Failed Future?

[figmentofmyass]

Blame the hysteria from getting a simple cold.

What is happening today is a lesson on the harmful effects of hypochondria.

this isn't a "simple cold" dude. i've been sick with it for 2.5 weeks and i would never wish this shit on my worst enemy. i've never felt anything like this in my lungs before. i can only imagine what it's like for someone twice my age and not physically fit. i also came down with it ~2 weeks after isolating which tells me it's insanely infectious due to incubation/shedding time.

my friend's aunt also died last week from coronavirus related cardiac arrest. i didn't know her but that shit is real enough to me. not hysteria. i'm just praying my mom doesn't get it. the people who aren't taking it seriously are either ignorant, or they are sort of sociopathic because they don't have parents/relatives who may die from it and they just don't care about the rest of society.

until there is effective treatment (and no, hydroxychloroquine is obviously not good enough), known herd immunity, or extremely tough restrictions to protect vulnerable populations, i see no way out of the current situation.

[so98nn]

Recently, India has completed 15 days of complete lockdown and now our employers have started ciruclating the comunication where we are told that there will be cut down in the salaries according to the % slab as follows :




** The values are in $
*** The values are converted from INR to USD per annum range

Looking at the cutting figures it can be seen that no employee is gonna be happy to receieve what they are goign to get.

The fact is most of the employees are still working from the home being IT personnel.

However, this doesnt change the fact that we still have to pay our EMI's, Daily food and home expenses. The life is still breathing but the money is substantially gone down.

Now everyone has to "adjust" their life with minimal money and look for the future plannings. As we do not yet know how and what the situation be in the upcoming days, this is serious matter up front.

snip

There is no news regarding the Private sectors. Being employee at pharmaceutical industry we have been circulated with internal office communication for the same.

When spoke with other friend circle in the town, they have same communication, and on an average there is sureshot same salary structure everyone is getting paid.

*This is gonna be effective from the April months paycheck.


On the other hand it has been already publicly announced regarding cutting of Government official salaries by as much 30% !

News follows here : https://economictimes.indiatimes.com/news/politics-and-nation/after-30-pc-salary-cut-mps-to-lose-another-rs-27000-per-month-in-allowances/articleshow/75035267.cms?from=mdr

[so98nn]

This is unfortunate, of course. But on a wider horizon, I guess these people who are still receiving a portion of their salaries are still very much lucky considering that a great many workers right now are totally deprived of their regular salaries. And many of the workers who are not receiving their wages anymore are mostly those who are too dependent on it for their daily needs.

Looking at the table, if the value is indeed in USD, those workers whose salaries will have a cut belong to those who have really nice paychecks. Even the lowest category with an annual income of 0.12 - 0.2 million USD per annum has a monthly salary of at least 10,000 USD. Or did I get this right?

Yes.

This one is for all the management staff who is at companies Director level or Senior most position who are taking huge take home salaries right now.

Since as you go down the line, the salaries are not affected much which is tiny portion and company can pay them easily.

But for the lord persons up there its gonna be huge cutting since it will benefit the firm most. 

[Japinat]

I hope this would not happen in our country.. it's really unfortunate that people has to suffer on this, and that is due to the covid-19.
I also think that the government has a big role on this, they should evaluate this actions by the employers properly if its just or not, because at the end of the day, when people are not making enough, their future will be uncertain and the economy of India will be affected in the long run.

[Questat]

Do you have a specific source of this information, this is an interesting one and I'm interested to know more about the news.

Recently, India has completed 15 days of complete lockdown and now our employers have started ciruclating the comunication where we are told that there will be cut down in the salaries according to the % slab as follows :

I thought in a country there's a basic salary for employees in difference sector,  if this reduce of salary is approved by the government or already pass on the ceiling of the basic salary law?

[akram143]

Recently, India has completed 15 days of complete lockdown and now our employers have started ciruclating the comunication where we are told that there will be cut down in the salaries according to the % slab as follows :

I thought in a country there's a basic salary for employees in difference sector,  if this reduce of salary is approved by the government or already pass on the ceiling of the basic salary law?

Remember all companies are also under lockdown so without any income they are not expected to pay their employees just because government said you don't have to cut anyone's salaries in the lockdown period.They didn't announced any packages for companies yet so most of they companies are already under huge loss with the stock market crash so many people will lose their job even after this corona ends.

I expect something from government not from companies.

[Clement Kaliyar]

~snip
this isn't a "simple cold" dude. i've been sick with it for 2.5 weeks and i would never wish this shit on my worst enemy. i've never felt anything like this in my lungs before. i can only imagine what it's like for someone twice my age and not physically fit. i also came down with it ~2 weeks after isolating which tells me it's insanely infectious due to incubation/shedding time.

my friend's aunt also died last week from coronavirus related cardiac arrest. i didn't know her but that shit is real enough to me. not hysteria. i'm just praying my mom doesn't get it. the people who aren't taking it seriously are either ignorant, or they are sort of sociopathic because they don't have parents/relatives who may die from it and they just don't care about the rest of society.

I hope you are doing good, there are many users in this forum who takes these things as fun, i have seen many messages here telling that people die of other diseases annually and some claim that people are just hyping the situation, people only takes things seriously once these pandemic hits your family or known people and i know the seriousness of the diseases as it will affect your internal organs and not just the lungs, i wish everyone is safe and take the situation seriously.

[bakasabo]

I think that cutting salary is not an option for company to survive. What company will win from it? Saving some amount of money ? But will that help if because of that work expert leaves the job and in the future campaign will spend resources to find and to teach a replacement unit?

P.S. I dont know the solution for that situation. If it is a large company, then it should have some savings, it cant just be bankrupt in a month. For a small business I think it is better to close down for some period and wait.

[Febo]

Cutting of Salaries in Indian Companies

Many companies will fire their workers and many companies will totally cease to exist. World will be way different a year from now as it is right now. On other hand some businesses will flourish and even some totally new businesses will show up. Many will become millionaires and billionaires just because of covid-19.

[fiulpro]

Due to industrialization , many jobs have already been compromised and at the same time if the government continues to use workers this way , even the private sector companies , they won't be able to do their job efficiently.

You know why Google is successful ?

Because they take good care of their employees. For a stable and good economy , one needs to understand that they need to first crater to the needs of the people working with them and then think about expanding the business.

Failed future for sure , what am more scared about is failed present in India.

I know teachers , full time being paid 50$ per month , the sad thing is they have to go because the government is not able to produce enough jobs for the people and even a little matters.

[onrise]

Cutting of Salaries in Indian Companies

Many companies will fire their workers and many companies will totally cease to exist. World will be way different a year from now as it is right now. On other hand some businesses will flourish and even some totally new businesses will show up. Many will become millionaires and billionaires just because of covid-19.

In recession we have seen what has happened in 2008 and since recession is already set so we may expect some job cuts or less growth opportunities for this year . Virus has destroyed many businesses and future plans of many people . Hope to see economy starts to roll as quick as possible .

[Averim]

Recently, India has completed 15 days of complete lockdown and now our employers have started ciruclating the comunication where we are told that there will be cut down in the salaries according to the % slab as follows :




** The values are in $
*** The values are converted from INR to USD per annum range

Looking at the cutting figures it can be seen that no employee is gonna be happy to receieve what they are goign to get.

The fact is most of the employees are still working from the home being IT personnel.

However, this doesnt change the fact that we still have to pay our EMI's, Daily food and home expenses. The life is still breathing but the money is substantially gone down.

Now everyone has to "adjust" their life with minimal money and look for the future plannings. As we do not yet know how and what the situation be in the upcoming days, this is serious matter up front.

This are hard moments but there has to be taken such measures, how does 1 mil dollar help you if there is no passion to work the field because they died of hunger or they had no access to medical treatment? Again, this is not a normal situation and affect everybody, from Africa to North Pole. I totally agree with this politics as long as the salary remain still covers the basic needs of the family.