Chinese leading telecom equipment maker ZTE has decided not go ahead with salary reductions in India after employees opposed the move, according to the Economic Times.
The firm had decided to go for salary reduction by 20% to reduce expenses in India since the company is running through tough times.
Last month in its board meeting ZTE had suggested 20 % reduction from salaries of the executives drawing monthly pay of more than Rs 1.5 lakh. For expat Chinese the pay cut is between 12-20%.
According to the management of the firm, the employees themselves had consented to the pay cut to help the company sail through the tough times, but the employees said they were not in favour of the move. |