PwC freezes hiring, defers all promotions, increments and bonuses

PwC today announced a host of HR-related steps aimed at mitigating the impact of coronavirus on business.

As per the announcement, all promotions, increments and bonuses have been deferred.

While the salaries for March will be paid on time, the call will be taken on April salaries depending on the company’s cash position, it was announced.

Partners and EDs will start the year with a 25% pay cut. The Economic Outlook Committee will inform them of the pay cuts.

All hirings have been frozen, but there will be no job cuts, the released said.

The focus is on recovering as much cash as possible and quickly before March end to ensure good cash positions, it added.

Employees were also informed that the company’s current health policy covers hospitalisation due to Covid-19.


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