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5 Indian CEOs Trying Best To Avoid Layoffs Shows Business Is Bigger Than Just Profits

| Published on May 8, 2020

Today, our nation is in crisis due to The COVID-19 and it’s uncertain how it’s going end. Apart from creating severe havoc on people’s lives, the Coronavirus outbreak has impacted the livelihood of millions.

Indian companies are trying hard to ensure minimum impact on business and employees get to stay safe while holding on to their jobs. However, despite people working from home, companies continue to fight with their funds. Pay-cuts become good news as employees begin to be afraid of downsizing and unemployment.

Unfortunately, we have been hearing a lot about layoffs but there are few business heads and CEOs who are trying their best to take care of their employees who served their company for many years before this outbreak.
Here is the list of 5 Indian CEOs who decided to forego their salary to avoid laying off their employees for as long as they can

1. Bhavish Aggarwal – Ola


India’s cab-hailing service Ola Cabs’ CEO Bhavish Aggarwal announced that he will forego his salary for this financial year. His salary would go to Ola’s ‘Drive the Driver Fund’ which aims to provide financial assistance to the auto, cab, and taxi drivers associated with the company.

2. Vijay Shekhar Sharma – Paytm


The founder of the mobile payments app Paytm, Vijay Shekhar Sharma officially announced that he won’t draw any salary for the next two months to help his employees.

3. Ritesh Agarwal – OYO


OYO, released earlier this month and announced that Founder and CEO Ritesh Agarwal will be taking a 100% pay-cut in his annual salary amid the COVID-19 crisis. Top officials of the company are also voluntary going with pay-cuts to help other employees

4. Deep Kalra – MakeMyTrip


MakeMyTrip’s CEO Deep Kalra also joined the hands and announced that he will draw ‘0 salaries’ in a bid to aid the company’s relief options for its staff and employees.

5. Rajiv Bajaj – Bajaj Auto

Source

Bajaj Auto CEO Rajiv Bajaj messaged that we will take a 100 percent pay reduction until the lockdown is called off. In an interview, Bajaj mentioned that he would cut his salary to zero before a single employee is laid off.

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