Leading Indian business tycoon has announced that he will give up his full year's salary....

Mukesh Ambani, the richest person in India and head of Reliance Industries, was not left untouched by the impact of the Corona virus crisis. Ambani has decided to forgo his full year's salary. At the same time, it has been decided to cut the salary of most of the employees of the company by 10 to 50 percent. Reliance Industries, which has done various jobs from refinery to telecom sector, gave this information in a message sent to employees.

The company has deferred the annual bonus of employees, which is usually given in the first quarter of the financial year. A nationwide lockdown (closure) has continued since March 25 to prevent the spread of corona virus infection. Due to this, the factories, flights, rail, road transport, movement of people, offices and theaters etc. are all closed. People are forced to live in homes. This has affected market demand and is impacting businesses.

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Reliance's refinery business has been badly affected by this. The heads of various units of the company sent a message informing the employees about the salary cut. "There is a lot of pressure on our hydrocarbon business," it says in the message. So we have to rationalize our costs and we are cutting costs in all areas. The current situation demands that we make our operating costs and fixed costs compatible and everyone needs to contribute. "

Ambani is leaving his full year salary of Rs 15 crore. The salary of the members of the Board of Directors of Reliance, including the Executive Director, members of the Executive Committee, will be reduced from 30 to 50 percent. There will be no deduction in the salary of employees whose package is less than Rs 15 lakh. But there will be a 10 percent reduction in the salary of those above this income. As the head of Reliance Industries, Ambani takes a salary of Rs 15 crore annually. There has been no change in his salary since 2008-09. According to the message, the company will continuously review the economic and business situation and will explore through increasing its income.

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