Business Standard Effects 10% Salary Cuts To Editorial, Business Staff

Banker Uday Kotak-owned Business Standard Ltd, publisher of an eponymous business daily, has effected a 10% salary cut to staffers above a certain compensation level. Cuts have been effected across both editorial and business staffers. Akila Urankar, president at BS Ltd, confirmed the development, but declined to say what the limit was. “I can say that only a small number of people are affected by this decision,” she added. When asked if the firm was undertaking other cost-cutting measures, she said: “We have taken a relook at the number of pages and we have also hiked the cover price in certain markets. So that’s it for now, unless of course things go from bad to worse.”