Covid affect on companies: Companies braced for the catastrophic affect of COVID-19. The blow could have been milder

Almost every week after the nationwide lockdown was declared in March-end, price range resort chain FabHotels reportedly laid off 100 staff and introduced cutbacks in salaries. Amongst pay cuts, the corporate’s founders took a 25% lower whereas staff with CTC beneath Rs 25,000 noticed 20% lower of their salaries. In an e-mail despatched to its launched staff, FabHotels acknowledged the catastrophic blow of the pandemic in the direction of the journey and hospitality sector and