Campaign India Team
Mar 20, 2020

Apollo Tyres leadership team take pay cut to nullify Coronavirus impact

Chairman and vice chairman take 25 per cent reduction in pay

Apollo Tyres leadership team take pay cut to nullify Coronavirus impact
The leadership team at Apollo Tyres has taken a voluntary reduction in pay to nullify the impact of Covid-19 for the company.
Coronavirus is expected to impact the automobile industry by reducing sales. 
Apollo Tyres' chairman and managing director, Onkar S Kanwar and vice chairman and MD, Neeraj Kanwar, announced a 25 per cent reduction in their salary. 
The senior management has also taken a voluntary reduction in their salary by 15 per cent.
Apollo Tyres pay cuts are across senior management at the global level. 
Onkar S Kanwar said, “This is an incredibly difficult time for our employees and their families. We are in unchartered waters but as ‘one family’ we will work together and make the necessary sacrifices to steer Apollo Tyres in the right direction, to overcome this period. We are experiencing slowing demand and disrupted supply chains due to Covid-19. We are working on further measures which we will provide updates on, as we make final decisions.”
Campaign India

Related Articles

Just Published

9 hours ago

Period leave: A privilege or a basic right?

Three marketing agencies in the region make the case for period leave as equitable staff policy. But the effects of period leave, we learn, play a bigger role in destigmatising conversations around menstruation and women’s health

9 hours ago

Raahil’s blog: One year later, there’s reason to be ...

The author lists three reasons why the industry should be optimistic of recovery in 2021

10 hours ago

Dole Juice Gel+ highlights the hilarious struggles ...

Wondrlab has conceptualised the campaign