Covid-19 lockdown woes: Auto companies wheel in wage cuts to keep motors running

Two-wheeler makers Bajaj Auto and TVS Motor have already resolved to cut salaries, at least temporarily. Commercial vehicle makers such as Ashok Leyland and Tata Motors, the hardest hit in FY20, may also do so shortly. With sales at a standstill, most companies are trying to avoid layoffs by cutting fixed costs such as salaries.

from Auto-Industry-Economic Times https://ift.tt/2xpZlTr