JK Tyre’s leadership takes voluntary pay-cut in view of covid-19
Company has also taken extensive steps to ensure safety and welfare of its employees and their families
Haridwar: Already facing problems due to unprecedented slow down and disruption in supply chain, the impact of COVID-19 pandemic has further aggravated the problems for tyre industry. It is anticipated that the situation may worsen further.
Keeping this in mind, the chairman and whole time directors of JK Tyre have taken a voluntary cut in their salary of 25%. The other senior management personnel have also taken a voluntary reduction in their salary by 15- 20%. Pay cut also applies to its global operations.
Dr. Raghupati Singhania, chairman & MD, JK Tyre & Industries Ltd, said, “Presently we are witnessing unprecedented difficult times, with both sales and profitability getting impacted due to Corona virus. The JK Tyre team 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.”
Meanwhile, company has also taken extensive steps to ensure safety and welfare of its employees and their families.