LAHORE: Bahria Town, country’s largest real estate developer, has announced pay cuts for its employees due to a reduction in revenues as a result of the Covid-19 outbreak.
According to reports, the company has paid its employees a reduced amount of their salaries for the month of April citing the prevailing situation.
According to a circular, those who are paid Rs50,000 per month or less did not have any deduction, those who are paid up to Rs100,000 per month had 20 per cent deducted while those paid up to Rs300,000 and above had 40 per cent and 50 per cent of their salaries deducted, respectively.
The deduction was applicable to all employees except those working in hospitals, the circular stated.
Prime Minister Imran Khan has urged industry not to cut jobs even as companies struggle due to the crisis created by the pandemic and the subsequent nationwide lockdown. Many private sector companies have decided to cut costs by reducing compensations to employees, among other measures, to face challenges faced by their businesses.