India Inc rules out cut in jobs and salaries amid coronavirus outbreak

The salary and job cuts are likely in the high-risk services sector, including airlines, hotels, malls, multiplexes, restaurants, and retailers

Several conglomerates promised on Friday they would not cut salaries of their staff and were not considering layoffs in the wake of the coronavirus pandemic, which threatens to push the global economy into recession, leaving millions out of work.

“I will cut my salary to zero before a single employee is laid off,” Rajiv Bajaj, managing director and chief executive officer of Bajaj Auto, said in a TV interview. The Aditya Birla group, the Vedanta group, and the Essar group also promised not to cut any jobs or salaries of their staff.

Tata Sons Chairman N Chandrasekaran said the group companies would