{"id":364125,"date":"2020-07-22T11:11:20","date_gmt":"2020-07-22T05:41:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=364125"},"modified":"2020-07-22T11:42:52","modified_gmt":"2020-07-22T06:12:52","slug":"larsen-toubro-top-officials-take-voluntary-pay-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/larsen-toubro-top-officials-take-voluntary-pay-cuts\/","title":{"rendered":"Larsen &amp; Toubro top officials take voluntary pay cuts"},"content":{"rendered":"<p>Key officials of Larsen &amp; Toubro have taken a voluntary pay cut of up to 53 per cent, including a 24.19 per cent salary cut by group chairman A.M. Naik, according to the company\u2019s annual report.<\/p>\n<p>Naik drew a total remuneration of Rs 6.18 crore for 2019-20 against Rs 8.15 crore in 2018-19. L&amp;T chief executive officer &amp; managing director S.N. Subrahmanyan took home Rs 27.17 crore for 2019-20, showing a pay cut of 43.91 per cent.<\/p>\n<p>\u201cReduction in managerial remuneration is mainly because of cost reduction measures voluntarily adopted by executive directors in the current pandemic scenario and reduced perquisite value,\u201d the report said.<\/p>\n<p>The average percentage increase made in the salaries of employees other than the managerial personnel for 2019-20 was 4.70 per cent. \u201cConsidering the impact of Covid-19 on the business, the executive directors have taken a voluntary reduction of 50 per cent on the entitled commission,\u201d the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key officials of Larsen &amp; Toubro have taken a voluntary pay cut of up to 53 per cent, including a 24.19 per cent salary cut by group chairman A.M. Naik, according to the company\u2019s annual report. Naik drew a total remuneration of Rs 6.18 crore for 2019-20 against Rs 8.15 crore in 2018-19. L&amp;T chief executive officer &amp; managing director S.N. Subrahmanyan took home Rs 27.17 crore for 2019-20, showing a pay cut of 43.91 per cent. \u201cReduction in managerial remuneration is mainly because of cost reduction measures voluntarily adopted by executive directors in the current pandemic scenario and reduced [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,245,148],"tags":[],"class_list":["post-364125","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/364125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=364125"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/364125\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=364125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=364125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=364125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}