Hindustan Unilever Limited (HUL) is the Indian subsidiary of Unilever. It is headquartered in Mumbai, India. The Chairman Managing Director of this company is Sanjeev Mehta. Its products include foods, beverages, cleaning agents, personal care products, water purifiers and consumer goods. HUL is a British-Dutch manufacturing company. Unilever now holds 67.25% equity in the company. It is an MNC not an Indian company.
Actually the government asked public and private establishment employers not to cut salaries or lay off employees during the corona virus pandemic. In view of Covid-19, there may be incidents where services of employees or workers may be dispensed with on the pretext of the disease or employees may be forced to go on leave without pay. In this vital challenging situation, all employers of public or private establishments may be advised not to fire their employees, especially casual or contractual workers, or reduce their wages. Workers taking leave should be deemed to be on duty without any consequential deduction in wages and if the place of employment is made non-operational due to Covid-19.
Also it is to be noted that the CMD of Sanjeev Mehta told that the company has not to fire or cut salaries of their employees because of the pandemic situation of covid 19, but it cannot say what will happen in next on Thursday via a media conference call on the company’s quarterly earnings. As per his words HUL has already taken various cost saving measures but steps for the road ahead will depend on how the economy behaves after the country emerges from the health crisis.
Sajeev Mehta also told that, If for instance the economy bounces back then they are into business but if they get into deep depression then they will reevaluate all the steps that they have been taking.HUL always keep options open because we evaluate everything very closely. They have to evaluate. He was responding to a query on whether the company has cut jobs or reduced salaries of employees in order to overcome the financial impact of corona virus outbreak and subsequent nationwide lockdown by elaborating the future references.
At last the fact that HUL also has to ensure its ecosystem remains strong, they will appreciate that HUL don’t run the business in isolation. They have distributors and what they have to do is play a part in ensuring that the ecosystem also survives so that the business keeps doing well going forward.