Amidst the COVID-19 pandemic, Srei Infrastructure Finance on Wednesday said its senior management will take voluntary pay cut of up to 30 per cent this fiscal year.
The senior management team, including chairman and chief executive officer, of the company have decided to lead the efforts on expense control by volunteering to take pay cuts for the current financial year 2020-21, it said in a regulatory filing.
The chairman has reduced his pay by 30 per cent and the chief executive officer and other senior management members have reduced their pay in the range of 20 per cent to 25 per cent, it said.
The national lockdown to contain the spread of coronavirus pandemic has halted economic activities, prompting salary cuts, including voluntary cuts, at various organizations across the country.