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Hefty salaries not being paid: Ratan Tata

Munnar: Tata Sons Ltd. is already practising austerity in its own unique style, says Ratan Tata, chairman of the group.

Mr. Tata arrived in the State on Wednesday on a three-day visit.

In an interaction with presspersons here, he said that at the beginning of the economic slowdown, he had written to the company executives about the need to cut down costs.

“By avoiding wastage and optimising the processes and cutting costs in operations, we were able to achieve austerity,” he told a questioner about the appeal made by Union Minister of State for Corporate Affairs Salman Khurshid to corporates against paying astronomical salaries to chief executive officers and top executives.

Mr. Tata said he did not believe in cutting down salaries since hefty salaries were not being paid.

“The question of salary cut does not arise,” Mr. Tata said.

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Hefty salaries not being paid: Ratan Tata

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