Covid-19: Spate of salary cuts, layoffs & leave reduction

A number of companies are looking at ways to cut costs, as the Covid-19 pandemic plays havoc with consumer demand. Hardcastle Restaurants, which owns and operates McDonald’s restaurants in west and south India, plans to defer 40% of the fixed salary, excluding retirals, of the top management from April to September. Employees a level below would have a 25% deferment.

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