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Yatra.com implements short-term pay-cuts for workers; founders take 50% wage discount

These pay-cuts relevant on the CTC excluding the PLB element, the letter mentioned including that these pay-cuts are short-term until June 2020.

Online journey agency Yatra.com is implementing short-term pay-cuts for its staff together with some being placed on depart with out pay from April 16 to June 30 as a result of affect of the COVID-19 pandemic.

The firm, nonetheless, mentioned these measures are “temporary” and being taken to keep away from lay-offs, and it stays optimistic for the longer term.

In a letter to the workers, Yatra.com mentioned efficient April 16, all staff will probably be categorised into 4 buckets, based mostly on the present stage of utilisation and the enterprise situation in days to return.

For the workers within the optimum utilisation class the relevant wage minimize is 25 per cent, for mid-utilisation it’s 50 per cent, for low-utilisation staff the wage minimize is 75 per cent, and staff within the no-utilization class have been requested to go on depart with out pay till June 2020, it added.

These pay-cuts relevant on the CTC excluding the PLB element, the letter mentioned including that these pay-cuts are short-term until June 2020.

When contacted, Yatra.com co-founder and CEO Dhruv Shringi instructed PTI: “We have undertaken cost cuts which are not restricted to only salary cost. Some people have been temporarily asked to proceed on leave without pay given the current scenario with the travel industry while others have taken a cut in pay. ”

The founders have taken a 50 per cent minimize for the yr. Cost cuts are the necessity of the hour for any firm and particularly these within the journey sector which has been one of many worst hit, he added.

“These are temporary measures and have been taken to avoid lay-offs. We continue to monitor the situation very closely and will take appropriate steps,” Shringi mentioned.

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