Tech Mahindra accepts senior workers' pay cut offer

It would be a temporary measure for a few quarters, say sources

The Tech Mahindra management has accepted the offer of its top 25-odd employees to take pay cuts of 10-20 per cent, said sources.

The offer, which was made by employees in the ranks of senior vice-president and above, came after the company’s uninspiring performance in the past few quarters. The employees wrote an email to the senior management, including to Chief Executive Officer C P Gurnani, requesting for the pay cut. This cut is likely to be a temporary measure, lasting a few quarters till things improve, said sources.

When contacted, a Tech Mahindra spokesperson refused to comment on this development.

However, company