Even though there may be a temporary slow-down in revenues and profitability, at Kalyan Jewellers, we will continue to support all our staff financially and emotionally, TS Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers said.
One of India’s largest gold jewellery store chain, Kalyan Jewellers March 26 told employees there will be no loss of pay at non-operational showrooms across the country due to the lockdown to prevent the spread of COVID-19.
The major gold trading centres across the country have been shut due to the country-wide lockdown announced by PM Narendra Modi to prevent the spread of coronavirus disease
In his previous address to the nation on March 19 PM Modi has appealed to India Inc. to take care of the economically disadvantaged. "Do not cut their pay for not turning up to work,” he had said.
“The current situation around COVID-19 is unprecedented. During these challenging times, all Indian businesses will need to be cognizant of their societal roles. Even though there may be a temporary slow-down in revenues and profitability, at Kalyan Jewellers, we will continue to support all our staff financially and emotionally – be it our permanent employees or contractual employees or casual staff - by paying their full salaries,” said TS Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers.
"Our company will continue to keep up our commitment and work ethics during these testing times. We are certain that together we will all ride through this tough period soon,” Kalyanaraman added.
The company in a letter written to the showroom managers, regional managers, business heads and other team members said, “The days when the showroom is closed in compliance with local State/City/Municipal rules will be considered as ‘working days’ for purpose of attendance. There will be no loss of pay for such days. This applies to all permanent, contractual and casual staff."The domestic gems & jewellery sector is currently pegged at around Rs 75,000 crore, according to industry body GJC.
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