Azim Premji leads by example, takes pay cut

As the global economic slowdown has an effect on pay packets, Indian IT company Wipro’s chief Azin Premji seems to be setting an example by taking a cut of 10% . the total compensation for him dipped from $32,414 (around Rs 14 lacs) in this fiscal year 2008-09 to $2,96,142 (around Rs 1.37 Cr). This is even more significant in the wake of the news that the company has paid higher remuneration to many of its other excecutive directors and senior mannages in 2008-09. The salaries paid to the non executive directors also increased.