TVS Motor Company Announces Salary Cuts For Employees

According to a statement from TVS, the salary cuts will be temporary and will be for a period of six months, from May till October, 2020.
TVS has announced salary cuts of between 5 per cent to 20 per cent

TVS Motor Company is one of the first two-wheeler brands in India to announce salary cuts for employees in the face of the current COVID-19 pandemic and subsequent lockdown. 

The lockdown has forced a near total halt in manufacturing and production, as well as retail sales of all automotive brands. According to a statement by TVS, the company has decided to adopt a pay cut for all its employees starting from the month of May 2020 till October 2020. This is seen as a result of the significant fall in the company's sales numbers due to the countrywide lockdown.

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