Zomato To Let Go Of 13% Of Staff, Pay Cuts Of Up To 50% For Rest | Read

Restaurant aggregator Zomato on Friday announced temporary pay cuts of up to 50 per cent across its workforce for around six months starting June. In a note to the company's staff, Zomato founder and CEO Deepinder Goyal wrote: "Lower cuts are being proposed for people with lower salaries, and higher cuts (up to 50 per cent) for people with higher salaries," he wrote in the note sent to the employees early on Friday. He said that starting June, a proposal was made for pay cuts applicable to the entire organisation. The temporary pay cuts at Zomato come at a time when the country is at the end of the third phase of the nationwide lockdown to curb the spread of the coronavirus (COVID-19) pandemic, which has pushed the economy into a standstill and forced many businesses to trim workforce.