Daily News and Analysis, published by a Mumbai-based joint venture between the Dainik Bhaskar group and subhash Chandra’s Zee group, is about to effect company-wide salary cuts. In a newsroom-wide meeting on Wednesday evening, DNA editor R. Jagannathan, told staffers that salary cuts across the organization were imminent, without specifying the quantum of the cuts. Two employees we spoke to, said they have been told by their unit managers that the quantum of the cut will differ based on the level of compensation.
In a March Q&A with contentSutra, DNA CEO K.U. Rao said the company was laying off 30-35 people and believed it was better to cut flab in the organization than cut salaries, as the latter affects employee morale. The announcement on Wednesday indicates that the business environment may have turned out to be harsher than the company had anticipated then.
Jagannathan was unavailable for comment and Rao declined to comment for this story.
{"source":"https:\/\/gigaom.com\/2009\/04\/24\/419-dna-editor-asks-newsroom-to-brace-for-salary-cuts\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_86d15f57a7e0e67ef293e929e9737f14","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}