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  • Category: Miscellaneous

    Wage freeze is no solution at all...

    Taking terrific advantage of the Coronavirus, there are a big number of both IT and manufacturing organizations that have frozen salaries. There are reductions in the salaries. There are some companies that have made it clear that for the next three years, there will be no increment at all. The lockdowns have been lifted to the maximum extent and the organizations are back to normal times. For example, the auto-component companies that are exporting to Europe, have now seen a massive surge in demand.

    Yet, most companies have frozen salaries. This has lead to less spending in the economy. There is only a good demand only in substitute products and this is not helping the overall economy to revive, as people are spending far less. There are hundreds of houses available for rent, as the employees who have moved to their native towns and villages have stayed back there and put their children in schools that are nearby their native places.

    This has resulted in less income in the hands of the house owners. The game goes on and on. It is high time that companies life the wage freeze immediately.
  • #725466
    Lockdown backlash is still visible and felt. The author has highlighted another aspect that salaries of employees were not paid by their companies they were employees whereof. This is their matter and they will get it sorted out. It is very true that millions of people lost their employment as they returned their native places. Now many of them have settled in their villages and some of them have returned their previous companies but they are not getting full salary comparing to their original salaries. Government employees have also setback . No increment in salaries and other allowances. Anyways, they have enough amount as salary more than what they deserve.

  • #725481
    COVID 19 and Lockdown has given many troubles to many citizens in the country. Many companies removed people and after restarting also they are not offering to the same people. Some companies reduced the allowances they give resulting in salary reduction to employees. Some companies did not give any increments to their employees. I know a company which is doing a good business reduced the salaries of the officers and managers to an extent of 30%. This is giving a lot of troubles to the employees whose salary got reduced. When the company is able to make good business and making profits, why the salaries of the employees should be reduced.
    This is nothing but exploitation. The management is making good profits. The salaries and the allowances of the top people not reduced. But only the middle-level employees are having this problem. The employees who are covered by labour laws are also safe. This discrimination is not acceptable.

    drrao
    always confident

  • #725495
    It is the fact that Corona has taken the toll of economy and those private organizations which are dependent on demand and supply are hardly hit and yet to recover from the shock of the economy. However there are some professional companies which realized the potential contributions of the employees during the good days are retained and even paid full salaries without cut. For example my self and my son was able to get our salaries during lock down without any problem and of course my wife job and salary was put on hold as a teacher. Nevertheless the economy has fast picked up and even the banks are ready to lend money to those who wants to clear the arrears of salaries and thus companies should not continue to play the bogey of lock down excuse and continue punish the sincere employees.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #725497
    When industrial development is on its peak and the customer has good purchasing power then only wages are revised time to time considering other factors as well like inflation and economic conditions. In adverse conditions like the one we are facing since a year how can we expect a rise in the salaries. It is not feasible and if not adhered to then will lead to more inflation and such problems. Freezing the wages is now a circumstantial consequence and till the pandemic is contained or eradicated I do not see any improvement in this aspect. During this unprecedented situation people have to manage within their means. It may bring some economic and industrial retardation but that is inevitable. Once things improve, their salaries would become fatter as used to be in earlier times.
    Knowledge is power.

  • #725586
    Yes, Covid-19 makes a huge effect on demand supply pattern throughout the globe. Industry house has taken various measures to reduce their cost to cope up with their reduced revenue due to short demand. Many industry has stop their production for a short period to dealt with their existing stock. Due to many employees has lost their employment , many has lost their full salary. More over some industry are maintaining their operation without cutting any manpower or salary there off. Even salary (dearness allowances) of all the govt. employee has been frozen by the central govt. Now the direct and indirect effect of these are covering in the market as such all the bad things are happenings.
    Believe in the existence of God the super power.


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