TVS Motor Workers to get reduced salaries for 6 months due to sales fall during lockdown

TVS Motor workers to face pay cut starting from May till October 2020 as the automobile sector’s sales fell during lockdown, TVS Motor Company has announced.

“In the wake of the unprecedented crisis, the company has rolled out a temporary salary reduction across different levels for a period of six months (May to Oct, 2020),” PTI reportedly cited a company spokesperson as saying.

The company had paid workers in full for the month of April. While the company hasn’t imposed salary cuts at the workmen level, there will be a 5 per cent salary reduction at the junior executive level and about 15 to 20 per cent at the senior management level, as per reports.