 "salary")
Battling against challenges in the wake of the COVID-19 pandemic, diversified conglomerate GMR Group has revised downwards employees' salary by up to 50 per cent with effect from May, a source said.
The reduction in compensation is maximum at the highest level, the source added.
The Bengaluru-based infrastructure major has presence in roads and highways, energy and airport sectors.
"As part of the revised structure, the group has done away with the variable component in employees' CTC (cost to company) and replaced it with special performance allowance, which will be treated as a special variable component," the source told PTI
