With the ongoing coronavirus pandemic continuing to take its toll on the economy world over, it has emerged that broadcaster NDTV has informed staff of immediate salary cuts.
In a Bombay Stock Exchange filing, the group has announced cost-cutting measures, with 10-40% salary cuts. NDTV has been forced to make the decision after a huge slump in advertising revenue.
It said, “The management of NDTV Group has been forced to implement a salary cut, effective 1 April, of between 10-40 per cent based on income slabs for a period of three months across its employee base.”
The salary cut will apply to employees who earn more than Rs. 50,000 per month.