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MUMBAI: Zee News
Ltd (ZNL) on Monday announced its senior management would take a salary cut of
5-15 per cent, joining a clutch of broadcasting companies who have taken similar
measures to combat the economic downturn. The
pay cut, effective 1 April, will impact close to 17 per cent of the staff, a source
in the company says. ZNL, which houses news and regional entertainment channels,
has an employee strength of 1400, the source adds. ZNL
is expected to post a strong fourth-quarter performance amid the economic slowdown,
but is taking this step as a "precautionary measure" to safeguard the
"interests of the majority of its employees" who will fall outside the
pay-cut slab. Says
ZNL CEO Barun Das, “Despite the fact that our quarterly results have been
splendid, we at the senior management level, collectively felt that we cannot
afford to be complacent despite our strong performances. We have set a very high
benchmark for ourselves and we are committed to live up to that. This is a gesture
from the top management to express their sense of belongingness. I am proud to
be part of this team.” |