Friday, 24 March, 2023
India Inc cut salaries in Q1, will prove troublesome to economic recovery
<p>A host of Indian formal sector companies resorted to wage cuts in Q1, to protect their profits in the pandemic. The "weak" wage growth will prove to be a hindrance in economic recovery by affecting household consumption, said a report by India Ratings and Research. The report was based on a study of the standalone financials of 2036 corporations. Half of those 2036 companies have reported negative growth in Q1FY22 compared to Q1FY21.</p>
Read full story at Business Standard
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