Good news for Reliance Industries employees, salary cuts are over, bonus
Reliance Industries, the Mukesh Ambani-led conglomerate, has ended the pay cuts implemented in its petroleum division amid the Covid 19 crisis. Good news for Reliance Industries employees, the company has also decided to give bonus as per work to the employees.
Two people aware of the case said that the company has also offered to give employees 30 percent advance of the next year’s variable salary, showing goodwill to the employees for working during the Korana period.
This offer can help more than one lakh employees of the company.
In April, the company implemented a pay cut of ten to 50 per cent in its hydrocarbon (petroleum) division. Chairman Mukesh Ambani had given up all his salary.
The company also postponed the payment of cash bonuses and work-based incentives. She normally makes these payments in the first quarter of the financial year.
Sources said that the company would have arranged the money from another division to end the cuts in the petroleum division. An emailed response from the company could not be received.
COVID-19 will change the entire picture of the insurance sector of the country, changes will be seen on these fronts
The picture of the insurance sector in the country will change drastically due to the coronavirus epidemic. It is likely that insurance will expand in the country, the cost of companies will come down and there will be changes in the products.
Rishabh Gandhi, the deputy CEO of IndiaFirst Life, has said this.
Gandhi pointed out that the cost of insurance companies would come down drastically as they could allow their employees to continue work from home. He said that this would save expenses related to office, rent, etc.
Gandhi said, “This epidemic will change the landscape of the insurance industry.” The cost of insurance companies will come down.
The reason for this is that companies will only spend on items with very important items and expenses related to ‘luxury’ will be reduced to a great extent. ”
Gandhi said, “This means that now many people do not need to come to the office every day …. You can save the office space and rent. Also can reduce the number of offices. People can continue the work from home strategy. ”