The spokesperson said 12.5 per cent of the total 25 per cent salary cut will be restored from October and the remaining 12.5 per cent from December 2020.
This was announced by OYO India and South Asia CEO Rohit Kapoor in a townhall meeting with the employees, the spokesperson said.
"We are grateful to all our OYOpreneurs for giving OYO a fighting chance to survive these tough times. The organisation respects your unwavering support for it in good as well as tough times,"the spokesperson quoted Kapoor as saying in the townhall meeting.
Kapoor also urged everyone to continue working together to bring the business back to pre-Covid levels.
When the pay cuts were announced in May, the company had said the action was planned in such a way that post the proposed pay cut, the fixed compensation for any employee is not less than Rs 5 lakh per annum. This ensured a large percentage of employees at lower pay scales saw no impact, OYO had said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.