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The following email was sent by the HR to the employees of the Outlook Group on 26 July 2020. Salaries at the group have not been paid since April 2020. The group suspended print publication of its magazines in March 2020. And a salary cut was announced across the group on 30 May 2020. Since 17 July 2020, weekly print edition of Outlook magazine has been converted into a fortnightly print edition, effectively signaling a reduction in print runs. The magazine is now published as an alternating print and digital editions.
Dear Colleagues,
This has reference to our CEO’s email of May 30, 2020 regarding the difficult decisions we had to take in these trying times for the first quarter of FY21.
It was not an easy decision from the Management’s side, but we are grateful for your understanding.
The impact of the pandemic however continues to affect our operations and revenue collections, despite our my best planning and preparations to offset the impact.
We will need to ride through this difficult period and will be impossible to do it without your understanding and cooperation. We will be continuing with the salary cuts for the second quarter (July to September) of FY21 as per the below table for our own survival. We will again review the situation at the end of the second quarter and take an appropriate decision for the remaining financial year.
Salary Deductions from July 1 to Sept 30, 2020
CTC Slab
% Reductions
Up to 3 lakh
0.0%
+3 to 5 lakh
10.0%
+5 to 10 lakh
20.0%
+10–15 lakh
22.5%
+15–20 lakh
25.0%
+20–25 lakh
30.0%
+25–30 lakh
35.0%
Above 30 lakh
40.0%
With best wishes and regards,
Yours sincerely,
HR Department
