BCCL to pay out TVP, Response incentives from July
Sivakumar Sundaram, Chairman of BCCL Executive Committee, has said details of the pay-out guidelines and timeline, based on the revenue recovery and our cash flows, will be shared in due course
BCCL has said that it will start paying out of the TVP to its employees from July in a staggered manner. It has also announced disbursal of Response incentives.
In an internal mail, Sivakumar Sundaram, Chairman of the Executive Committee of BCCL, has said “the details of the pay-out guidelines and timeline, based on the revenue recovery and our cash flows, will be shared with the Functional heads in due course by HR”.
He has further said in the mail: “The customer is king adage cannot be more true today, as our salaries come from the revenues, the organisation generates. The last month of Q1 has been promising on several counts - be it the cautious lifting of lockdown in a staggered manner, resumption of door to door distribution of newspapers in our key markets and the beginning signs of the return of advertisement revenues.
All our teams have shown resilience, adapted to the new normal with speed and agility and ensured publishing and distribution of the newspapers on a daily basis despite all the impediments. My sincere gratitude to the team members.
As revenues disappeared, we had to introduce immediate short term cost management measures to manage and ensure that the liquidity challenge does not become a solvency crisis. While I thank each one of you for your commitment in voluntarily supporting the measures, our immediate focus is on restoring copies and revenues. This is extremely critical to ensure that we do not have to once again impinge upon further costs management measures.”
