The Hindu joins the league of media houses announcing pay cuts

The news came to employees in the form of a scanned hand-written letter from the newspaper’s CEO, LV Navaneeth.

ByNL Team
The Hindu joins the league of media houses announcing pay cuts
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The Hindu is the latest addition to the growing list of media houses that have announced pay cuts owing to the pandemic’s economic fallout. LV Navaneeth, CEO, in a hand-written letter to the newspaper’s employees, announced the following wage cuts effective from April 1, 2020:

Earning up to Rs 6 lakh per annum - No deductions

Rs 6-10 lakh per annum - 8 percent

Rs 10-15 lakh per annum - 12 percent

Rs 15-25 lakh per annum - 16 percent

Rs 25-35 lakh per annum - 20 percent

Earning more than Rs 35 lakh per annum - 25 percent

The cuts will be applicable to the annual gross salary of employees and will not affect retirals, the letter said.

Urging employees to collectively help the organisation move towards a new normal, Navaneeth said the current situation places a huge burden on the newspaper’s finances. “The whole-time directors and independent directors on the board have volunteered to make substantial monetary sacrifices along with all of us,” he added.

In the course of a month, multiple media houses including Hindustan Times, Indian Express, The Quint, the Times of India, News Nation, NDTV, and many others have laid off employees or announced salary cuts.

Also Read : Stop media houses from laying off staff, cutting salaries: Journalist unions to SC
Also Read : Can newspapers survive the coronavirus fallout?
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