COVID-19 crisis: The Express Group goes for temporary salary cuts
The Group has said that due to the outbreak and lockdown, print orders have been reduced and advertising revenues have been hit hard
The Express Group has informed its employees that the organisation will be going for a temporary salary cut.
The Group has said that due to the coronavirus outbreak “vendors are insecure, RWAs are insecure, the rail, road and air lockdown has grounded distribution, businesses are shut down, we have been compelled to reduce print orders in all centres – this is absolutely unprecedented”.
In a communication to the employees said the Group further said: “Our advertising revenues have been hit hard and all available evidence shows the worst may be yet to come.”
Chief Editor Rajkamal Jha has decided to go a 100 per cent salary cut, the communication said.
