Reliance Industries, the Mukesh Ambani-led conglomerate, has ended the pay cuts implemented in its petroleum division amid the COVID-19 crisis. The company has also decided to give bonuses as per work to the employees.
Two persons aware of the case said that the company has also offered to give employees 30 percent advance of the next year's variable salary, showing goodwill towards working during the period of Corona. This offer can help more than one lakh employees of the company.
In April, the company implemented a pay cut of ten to 50 percent in its hydrocarbon (petroleum) division. Chairman Mukesh Ambani had given up all his salary. The company also postponed the payment of cash bonuses and work-based incentives. She normally makes these payments in the first quarter of the financial year. Sources said that the company would have arranged the money from another division to end the cuts in the petroleum division. An emailed response from the company could not be received.