Finally, some positive news coming in, in the job sector.
India’s biggest paint company: Asian Paints, has decided to increase salaries of their employees, in order to boost their morale.
Amidst news of layoffs and salary cuts everywhere, this is encouraging news, and will surely impact all their employees to deal with the gloom of coronavirus.
Asian Paints Will Increase Salary
Asian Paints has confirmed that they are increasing the salaries of all employees, even as the Q1 results are likely to be very bad.
This has been done at this point of time to boost morale of all employees.
MD and CEO Amit Syngle said, “I see this as a big opportunity to step in and interact with every single employee and assuage their concerns in an uncertain marketplace. We are not in the hire and fire business and as a mature brand have reassured employees that we all are together in this.”
The company as confirmed that no employee will fired, since it’s not the culture of Asian Paints to terminate employees due to loss in business.
Rewards, Incentives For All Dealers
Besides hiking salaries of all employees, Asian Paints is also rewarding their dealers to cope with this testing time.
Rs 40 crore has transferred to thousands of their dealers as cash incentives for managing this loss in business.
Besides, the company is providing free health insurance of all staff who are working with the dealers, free sanitization of their shops, 45-days extension in the payment which they are supposed to pay to Asian Paints, and 2% discount if that payment is made within these 45 days.
Asian Paints has not only donated Rs 35 crore to the PM Cares Fund, but have also started making hand sanitizers called Viroprotek.
Asian Paints was founded by 4 friends: Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil, in a garage in Mumbai in 1945. Last year, they churned out revenues of Rs 19,000 crore, and they employ 6000+ employees.
We will keep you updated, as more details come in.
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