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Tata companies may cut senior managerial pay by 15-20%

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MUMBAI : Tata Sons and its group companies are examining the prospect of cutting salaries of key managerial personnel and senior management by about 15-20% to alleviate the impact of the ecoomic slowdown on company balance-sheets.

The decision was taken at the Tata Sons board meeting on 5 June, said two people with direct knowledge of the matter.While this decision was taken by Tata Sons as the holding company of Tata group companies, it will have to be ratified by individual company boards and respective committees, said the first of the two people quoted above.“Tata Sons senior management will take about 15-20% pay cut.

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