K'taka IT-BT companies may explore pay adjustments than layoffs

Bengaluru, April 17 (IANS) Karnataka-based IT-BT companies may resort to employee pay adjustment amid Covid lockdown than laying off, said Deputy Chief Minister C.N. Ashwathnaraya on Friday."Companies could find better ways of dealing with the situation (Covid), including measures such as pay adjustments rather than resorting to retrenchment," said Ashwathnarayana after a virtual meeting with industry heads.He said it is not right for Covid-stricken companies to shut shop or lay off employees citing reasons such as lack of new work orders or projects."Finding new jobs at this point of time will be difficult," said the Deputy Chief Minister highlighting the plight of thousands of employees across the state.Interestingly, his opinion was echoed by industry veterans who deliberated with Ashwathnarayana.Former Infosys Chief Executive Kris Gopalakrishnana and Biocon Chairperson Kiran Mazumdar Shaw were among the executives who participated in the virtual conference.
--IANS sth/kr