After Apollo tyres’ management workforce introduced a voluntary pay minimize, JK Tyre has now issued an official assertion saying the identical.
- Last Updated: March 26, 2020, 1:36 PM IST
- Edited by: Anirudh SK
As the automotive and its dependent industries proceed to undergo a testing time as a result of outbreak of Coronavirus, a handful of them has introduced plant shutdowns and pay cuts so as the take care of the losses incurred. After Apollo tyres’ management workforce introduced a voluntary pay minimize, JK Tyre has now issued an official assertion saying the identical.
The firm’s Chairman & Managing Director, Raghupati Singhania mentioned, “Presently we are witnessing unprecedented difficult times, with both sales and profitability getting impacted due to Coronavirus. The TEAM JK TYRE is putting together its might to emerge as winners in this challenging situation. In response and acting in a show of solidarity in this critical time, it has come forward for a reduction in their salaries.”
He additional mentioned, ”Chairman and Whole-time Directors of JK Tyre have taken a voluntary minimize of their wage of 25% and different senior administration personnel have additionally taken a voluntary discount of their wage by 15- 20%. Pay minimize additionally applies to its world operations.”
The firm has additionally taken intensive steps to make sure the protection and welfare of its workers and their households. In addition to one of many worst slowdowns within the auto business that has longed for greater than a yr now, the precautionary measures of COVID-19 outbreak have stopped manufacturing and majorly impacted the income of the businesses.