Wednesday, March 18, 2009

Times Group freezes wages as revenue drops

Mumbai: Bennett, Coleman and Co. Ltd, which publishes India’s biggest selling English-language newspaper, cut salaries and froze pay after advertising income fell 25%, chief executive officer Ravi Dhariwal said.

The Mumbai-based group, owner of ‘The Times of India’ newspaper, has decided to roll back 6-40% of salary increases offered to employees this year, according to an e-mail by Dhariwal to the company’s staff earlier this week.

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