Mumbai, May 15: At the time when most of the companies are laying-off their employees or opting a pay cut policy, Asian Paints has taken the opposite route. India's biggest paints maker is giving a hike to its employees during the coronavirus crisis. The company has also not laid-off people. The step is taken to boost the morale of its employees. Zomato to lay off 13 Percent Staff, Pay Cuts for Others as COVID-19 Lockdown Impacts Online Food Delivering Business.

Asian paints also provided full sanitisation facilities for partner stores. The measures adopted by the company to strengthen its sale channel, include direct cash support, hospitalisation and insurance facilities. According to a report published in The Economic Times, Asian Paints even transferred Rs 40 crore into the accounts of its contractors.  Coronavirus Cases Reach 81,970 in India With 3,967 New COVID-19 Patients in Past 24 Hours, Death Toll Jumps to 2,649.

“We have to set an example of true leadership and an organisation that takes care of all its stakeholders. I have been updating the board regularly on all such initiatives and have received their approval for these actions,” reported the media house quoting MD and CEO Amit Syngle.

As per Syngle, Asian Paints is not in the hire and fire business and being a mature brand, the company assured its employees that they all are together during this time of crisis. Last week, Asian Paints wrote a letter to its dealers offering free sanitisation of paint shops. Asian Paints has also donated Rs 35 crores to state and Centre COVID-19 relief funds.

It has also started making sanitisers to help the country in fighting coronavirus.  However, the company is also trying to avoid unnecessary expenses. The slump in crude prices to below USD 30 per barrel has benefitted the company as one-third of its raw material consists of oil derivatives.

(The above story first appeared on LatestLY on May 15, 2020 05:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).