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JK Tyre senior management takes 25% pay cut amid Covid-19 pandemic

Author: Andrew Bogie Comments: 0

Senior management at Indian tyre manufacturer JK Tyre will take a 25 per cent pay cut during the Covid-19 outbreak. Chairman and managing director Raghupati Singhania stated that the board was taking the cut “in a show of solidarity in this critical time,” noting the “unprecedented” impact of the virus on sales and profitability. He said that the company is also moving to safeguard the welfare of JK Tyre employees and their families.

In announcing these measures the company joins its compatriot Apollo Tyres, which announced pay cuts for its management on Monday, 23 March.

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