The Hindu joins the league of media houses announcing pay cuts

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.