TVS Motor Company today said it is cutting the wages of employees with the Covid-19 effect.
TVS is the first two-wheeler brand in the country to announce a pay cut. Wages for all employees will be cut from May to October this year due to productivity and sales stalling, the company said in a statement on Monday. The decision was made following a nationwide lockdown, with sales falling sharply. Employees were paid between 5 and 20 percent of their wages. As automobile sales fell, so did other automobile company employees.
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