~
After rewarding its shareholders with a 1:1 bonus issue, Reliance Industries is offering performance-linked incentives to its employees this Diwali, though lower than last year’s.
A RIL official, speaking on condition of anonymity, said they received the incentives this week. He said this time incentives ranged between 2.5-7.5% of the annual compensation, half of last year’s pay out. RIL employees generally get the incentives in April.
Last year, the company launched a drastic cost cutting and belt-tightening initiative to combat the global economic slowdown. Code named “Mission Kurukshetra,” the exercise was aimed at cutting costs across all its major industrial operations—from refineries to petrochemicals, oil exploration to retail—as well as across the value chain.
A senior RIL official confirmed that incentives were being paid to employees. He said: “Mission Kurukshetra paid off well”. He, however, declined to comment on the quantum of cash outgo for payment of incentives. RIL has nearly 25,000 employees. An external spokesperson for RIL declined to comment. Mukesh Ambani, RIL’s chairman, last week took a pay cut of 66% to Rs 15 crore for fiscal year 2008-09.
RIL recently announced that each shareholders would get a free share for every share they held, first time after a gap of 12 years. It also announced a 130% dividend pay out to the shareholders.
~ET
At Sampark Online Finserv LLP, we provide financial advice and distribute various investment products with the most efficient & widest range, customized specifically to your NEEDS..@ Whether you are keen on small investments or playing it big, We provide financial advice and distribute various investment/financial products with the most efficient & widest range, customized specifically to your NEEDs.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
8 MILLIONS CHILDREN ARE NOT IN SCHOOL : THE POWER OF YOUR WORDS CAN HELP CHANGE THEIR LIVES .. JOIN THE MOVEMENT NOW
-
SAMPARK 75(193), G. T. ROAD RAMBANDHU TAKAW OPP-CHOWALAL SCHOOL ASANSOL-713303, (W.B),INDIA JALAN BHAWAN 52 N.S.ROAD...
-
Life is the most difficult exam Many people fail bcoz they try to copy others Not realising THAT every1 has a different question paper..@ ...
-
Every sunset gives us one day less to live! But every sunrise give us one more day of hope.. So always hope for the best..@ GD...
-
Greatness is Not found in Possessions Power, Position or Prestige It is found in Humility Service & Character Always be Grea...
-
It is impossible to predict the future price of stocks, Due to tentative nature of share prices, Stock prices are fluctuate by investor v...
-
The boom years of the early 21st century were good for many people, but perhaps no one enjoyed them more than Sheikh Mohammed bin Rashid al ...
No comments:
Post a Comment