InvestorQ : Is it true that Reliance Industries has announced pay cuts for its employees due to COVID-19?
Juvina Maggie made post

Is it true that Reliance Industries has announced pay cuts for its employees due to COVID-19?

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Angel dcosta answered.
2 years ago
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You are right that Reliance Industries has announced a pay cut of up to 50% for top employees of the oil-and-gas division. This is largely because Reliance has been fighting hard against lower fuel consumption and profitability due to the Coronavirus pandemic. What is likely to happen is that only those employees of the oil and gas division earning more than Rs.15 lakhs ($20,000) annually will face a 10% salary cut. Going up the ladder, senior executives could face pay cuts to the tune of 30-50% in the case of senior executives.

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