Mumbai, November 3: The coronavirus lockdown led to severe job cuts, businesses being shut and salary deduction. However, with the opening of the economy, things have started to look better. Employers have started restoring salary cuts, giving Diwali Bonuses and in some cases also advancing their appraisal cycles.
According to a Times of Inda report, Voltas, Vijay Sales have given Diwali bonuses to their employees, while Urban Company has advanced its appraisal cycle. With effect from October 1, Kotak Mahindra Bank has rolled back pay cuts that were in effect for their top executives earning more than Rs 25 lakh per annum. Diwali Bonus 2020 For BMC Employees: Rs 15,500 Bonus Announced; Here is the Amount Which Municipal Workers, Teachers & Social Health Workers Will Get.
Similarly, broadcasters like Star, Zee and Viacom18 have also rolled back salary cuts. In addition, Zee is also crediting 50 percent of pending bonus amounts into employees’ accounts prior to Diwali.
Voltas employees who usually get their bonuses by August, got it last month. Similarly, Urban Company also said that it employees are eligible to participate in the performance appraisal cycle, which was advanced keeping in mind the upcoming festive season. This surely comes as a breather to the corporate world which has been battling with a tight situation since a long time .