In what will come as good news to Indian media professionals across companies who have suffered salary cuts, Mumbai-based daily Daily News and Analysis has announced a partial roll back of salary cuts it effected earlier this year during the heights of the economic slowdown.
In April, the daily had effected a slab-based salary cut which ranged from 7.5-12% and excluded those earning upto Rs4 lakh per annum.
In a memo to section heads this evening, Diligent Media CEO K.U. Rao said the company was rolling back 50% of the cut effective 1 November and the remaining 50% will be reviewed again in December.
The move will likely put peer pressure on other media companies to roll back salary cuts as well. Late last month, Bennett, Coleman & Co. Ltd said it will pay a part of future variable pay in advance.