NEW DELHI: With coronavirus lockdown hitting businesses hard, India’s largest company Reliance Industries has decided to cut the salary of most of its employees by 10 to 50 per cent with firm’s chairman and richest Indian Mukesh Ambani agreeing to forgo all his remuneration.
Also, the oil-to-technology conglomerate has deferred annual cash bonus and performance-linked incentives that are normally paid in the first quarter, according to an employee communique.
