Thank you in advance to the seniors who may kindly reply to this request for knowledge and clarification.
Ours is an international company with two service centers in India. It is a business services company with corporate-like offices and positions. Throughout the company we must make changes to the cost structure to address the business downturn we are experiencing. We would prefer not to lay anyone off. Instead we would like to reduce the wages of all employees globally by 15% until conditions change.
Is this permitted in India? Under which law is there language that applies to this and is relevant to this topic? Is there a specific notice period that applies to changing the terms of employment?
Thank you for your kind assistance.
Ours is an international company with two service centers in India. It is a business services company with corporate-like offices and positions. Throughout the company we must make changes to the cost structure to address the business downturn we are experiencing. We would prefer not to lay anyone off. Instead we would like to reduce the wages of all employees globally by 15% until conditions change.
Is this permitted in India? Under which law is there language that applies to this and is relevant to this topic? Is there a specific notice period that applies to changing the terms of employment?
Thank you for your kind assistance.