Amid a severe cash crunch, quick-commerce player Dunzo capped the monthly salary of employees at ₹75,000 in June, according to sources cited by Moneycontrol reported. This meant that no employee would receive more than this fixed amount, regardless of their actual package, while those earning less would receive their full salary.
Earlier, Moneycontrol reported that Dunzo was deferring June salaries for around 500 employees, or about 50% of its workforce. The company’s top management, including co-founder and CEO Kabeer Biswas, assured employees that the salary cap was only for June and that all dues would be cleared by July 20.
Impact on Senior Employees
The salary deferrals are understood to have impacted senior employees at Dunzo the most. Around 60-65% of all workers were paid in full, while 35-40% received only a part, or ₹75,000, as their June salary. Employees were informed about the salary caps and deferrals on the day they were supposed to receive their salaries, with no prior intimation.
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Broader Troubles For Techies
Earlier today, media reports suggested that Infosys, India’s second-largest IT services company, also deferred the salary hikes for its employees below the senior management level, which are typically rolled out in April. This decision is seen as another sign of the stress companies are under in the current macroeconomic climate, as they face project ramp-downs or cancellations.
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