Advertisement
Wednesday, Dec 01, 2021
Outlook.com
Opinion

Double Standards? If Governments Can, Why Can't Private Companies Slash Or Defer Salaries?

Can the government insist a business owner to dig into his personal savings and sell private property to ensure the employees are paid, asks attorney Gunjan Paharia

Double Standards? If Governments Can, Why Can't Private Companies Slash Or Defer Salaries?
Double Standards? If Governments Can, Why Can't Private Companies Slash Or Defer Salaries?
outlookindia.com
2020-04-18T13:45:07+05:30

The country is currently dealing with not only the COVID-19 pandemic, but also a lot of collateral damage caused by the virus that is now threatening to go out of control. The worldwide economic slowdown is now threatening the livelihood of millions across the globe, including people in India.

For most companies, the second quarter of this year has been wiped out. They are not only dealing with loss of revenue due to the lockdown, but also the impact of all the major economies slowing down. This is impacting bottomlines, translating into lower production, workforce layoffs, lower profits and thereby lower taxes. With production down to zero, employees locked down in their homes and no sales, most micro, small and medium enterprises (MSMEs) are looking with concern at the biggest fixed cost in such an environment—the workforce.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

The UN has sought probe into civilian killings in Jammu and Kashmir’s Hyderpora and called on the security forces and armed groups to exercise restraint.

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

South Africa, the first nation where the virus variant was detected, has reported 77 cases of Omicron so far, prompting travel bans across the world.

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Lancer Capital has made its first-ever historic foray into cricket by acquiring a franchise in the UAE T20 league. The ECB has already roped in IPL teams like MI, DC and KRR.

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

As Parag Agrawal becomes the CEO of Twitter, the Indian diaspora's representation in the tech giants of America, especially the companies in Silicon Valley gets a new badge.

Advertisement