In order to reduce cost, Jindal Steel and Power (JSPL), one of the largest players in steel market in India, has reportedly reduced employee salaries by 10 percent. Furthermore, the salary disbursements to employees are also being delayed. The company has been reducing its employee costs in FY16. Wages and employee benefits have reduced by 7.6 percent at Rs 254 crore during July-September 2015 against Rs 275 crore in April-June 2015.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
