“Air India employees face salary cut from April 2013”
“Infosys recasts staffers’ salary structure, cuts variable”
“Cadburys India cuts the pay of its managing director and other senior executives”
Such news has been making headlines of newspapers and magazines in 2013. The job market was almost stagnant last year in 2012 with very few fresh recruitments and negligible salary hikes even for top performers, apart from the pay cuts due to cost cutting measures by organizations because of the economic slowdown. Though the situation seems to have improved this year, employers are still adopting a very conservative and cautious approach when it comes to paying bonuses and increments.