Online travel firm Yatra implements pay cuts effective April, management salaries reduced by 50%

Online travel firm Yatra Online on June 6 announced pay cuts for its employees as part of its cost reduction initiatives. These initiatives, it said, have been implemented starting April 2020.

In a business update, the company said management salaries will be reduced by 50 percent while a variable reduction of 25 percent to 75 percent in salaries is being implemented across the board for the near term.

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It will also be freezing salary hikes and renegotiating supplier payment terms and conditions, the company said in a statement.

Renegotiating fixed costs like rent and deferring non-critical capital expenditures are other announcements made by Yatra under its cost-cutting initiatives.

The Gurugram-based travel services provider is one of India's leading online travel companies and operates the website Yatra.com.