Arvind Fashions defer payments of 50-80% of staff salaries for April, Retail News, ET Retail

Davida Erdahl

New Delhi: Arvind Fashions, retailer of manufacturers these types of as Gap, US Polo, Sephora, Aeropostale and Traveling Equipment, has deferred payments of fifty-80% of workers salaries for April owing to reduced income and depleting funds movement amid the lockdown forced by Covid-19. Salary payments may possibly be impacted for a handful of much more months right up until the condition improves, explained people today mindful of the make any difference.

“Arvind Fashions has now built an on-account payment for salaries in the thirty day period of April and not a income cut,” explained Arvind Fashions CEO J Suresh. “On-account payment is carried out to aid workforce to get care of their fast requirements. Considering that April is a zero income thirty day period we are paying out the advance and we will be in a position to pay out the equilibrium when the condition improves and points grow to

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