Though job cuts are looming large over the country's industrial players on account of the COVID-19 triggered lockdown, coating major Berger Paints stated that it has no plan for salary cuts, retrenchment or involuntary furlough for its employees.
The company which has 2,920 employees on its roll also stated that there will be no impact of the crisis on new recruitment offers.
Berger Paints MD & CEO Abhijit Roy stated, “ We are like one big but closely-knit family and would fight this battle together. These are challenging times and might require small sacrifices from the entire family to sail through the crisis. However, there won't be any retrenchments or involuntary furloughs.”.
Roy added that even in the current scenario when sales in April fell own to negligible levels and May business would depend on the (duration of) lockdown, the company will pay full salaries to its employees for April and May.
The coating major has also decided against any involuntary furloughs or organizational restructuring that may lead to downsizing of headcount and consequent loss of livelihood. The company had also engaged with its service providers to ensure that the salaries of their associates are paid.
In addition, the company has onboarded a total of 21 lateral employees in management and non-management levels in April and the induction process of more than 100 campus offers is expected to begin shortly.
While many firms are resorting to job cuts, pay cuts, and delaying job offers, Berger had chosen not to tread this path and neither revoke job offers even though the lockdown will delay the joining of new hires. Much of India’s industrial and manufacturing sector is closely working with various state authorities and in this direction, Berger’s plants in Assam, Goa, Pondicherry, and Gujarat are in line to get started with a capacity of 30 percent with strict adherence to the MHA directives.
While the economic impact of the lockdown will be a major one on the Indian industry, there is still a respite in the way many firms are trying to save as many jobs as possible.