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Thank you for addressing your question to me. We have faced these situations during past few years.
You will appreciate that salaries have to be earned by the company from business only.and If there is no revenue then how will company pay. We had stopped further recruitment and as far as possible retained the employees. We took certain contigency measures by taking dealership of related products and employees were offered60% of the margin from the agency business as incentive to the employees in lieu of restricted raise. Most of the employees were to perform additional responsibilities of sales or back end support. Those who were not satisfied left us and we had to take that loss of talent but by and large we did not lay off the employees.
Since we are in FMCG sector therefore we could come up with such adjustments in our strategy particularly to sustain but many business particularly consultancy, services sector as well as heavy engineering and infrastructure sector suffered greater impacts, where lay offs were unavoidable.
I will be the mechanism that befits staff within their area.
