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Amid self-isolation in the time of 21-day lockdown imposed by PM Narendra Modi in the wake of coronavirus outbreak in the nation, Bollywood has certainly come to a halt with all production activities being stopped completely. The worst hit are the daily wage labourers and many Bollywood celebs including Salman Khan, Shah Rukh Khan, Ekta Kapoor and others have come forth to provide financial help to them.
However, we now hear that conglomerates across the country are also getting badly affected by the lockdown. According to a report in a leading daily, an e-mail was circulated on Monday in Star India, which merged with Disney last year, implementing that the senior management will take at least 20 per cent pay cut with the maximum being 30 per cent. In fact, Disney chairman Bob Iger has even decided to forgo his entire salary till the time the world comes back to normalcy.
The daily quoted an employee as saying, "In an e-mail that we received early today, Uday [Shankar, chairman, Star & Disney India] sent us the trail mail from Bob Chapek [CEO, Disney], requesting the senior executives from Asia Pacific to take a voluntary pay cut. The executive vice presidents are looking at 30 per cent cut whereas senior vice presidents and vice-presidents will take a 25 per cent and 20 per cent pay reduction respectively till the lockdown is called off." It further quoted another employee, on condition of anonymity, as saying, "It was sent across as a standard e-mail announcement. Instead, they could have at least discussed it over a [virtual] Townhall. At this point, we don't know if there is a possibility of pink slips in the future."
Star India remained unavailable for comment.
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