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RIL seeks 10% rent waiver from its fuel retailers

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₹4,245 crore due to the pandemic-induced lockdown and inventory losses because of fluctuations in the global oil prices.So, to cut costs, Ambani, RIL chairman, has decided to forgo his annual salary of ₹15 crore.

In addition to Ambani, the company's top management, and a sizable section of employees in the hydrocarbons division of RIL have also taken pay cuts.According to an internal memo to employees, RIL said the company was compelled to implement the austerity measures as its hydrocarbons business has been hit due to a sharp drop in demand caused by lockdowns across the world.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
Deaths: 459 652
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Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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