RIL rolls back salary cuts, Jio employees receive 100% of variable payouts

Mukesh Ambani-led Reliance Industries (RIL) is rolling back salary cuts and giving out the performance bonus which had been deferred to those employed in its hydrocarbon business. And in a first for the business house, the hydrocarbon segment will also offer an advance 30% of the variable pay from next year’s pay-outs to its lakh-plus employees as a goodwill gesture for working during the pandemic, according to a person familiar with the matter.

While the older business saw rough weather, those working in the telecom segment – Reliance Jio – have already received 100% of their variable payouts. However, RIL hasn’t yet decided on the hikes.

“The company has reversed the 10% reduction in fixed pay that was effected in April 2020 for those with total annual pay of over Rs 15 lakh. This reversal is with retrospective effect from April 1, 2020,” said the person.