Coronavirus Impact: JK Tyre’s Leadership Team Takes Voluntary Pay-Cut
With the auto industry going through some difficult times because of the lockdown in most states, JK Tyre too has been going through these difficult times and the slow down and disruption in supply chain is hurting the Tyre business too. However, the company is responding to these difficult times and said that the Chairman and Whole time Directors of JK Tyre have taken a voluntary cut in their salary of 25 per cent and other senior management personnel have also taken a voluntary reduction in their salary by 15- 20 per cent. This pay cut is also applicable to its global operations
Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd, said, “Presently we are witnessing unprecedented difficult times, with both sales and profitability getting impacted due to Corona virus. The TEAM JK TYRE is putting together its might to emerge as winners in this challenging situation. In response and acting in a show of solidarity in this critical time, it has come forward for a reduction in their salaries.”
The company has also taken extensive steps to ensure safety and welfare of its employees and their families.
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