Kotak Mahindra Bank declares 10% pay cut for staff with over Rs 25 lakh annual salary
Shortpedia
Content Team
Image Credit: News18
Private sector lender Kotak Mahindra Bank has decided on a 10 per cent pay cut for the employees earning above Rs 25 lakh per annum, in a business sustainability move amid the COVID-19 pandemic, according to a communication. The move comes weeks after the top management voluntarily surrendered 15 per cent of their payments for 2020-21. Many corporates have been cutting salaries due to coronavirus crises.
