Marriott President Arne Sorenson Gives Up Salary For Rest of 2020 For Staff Amid Coronavirus Outbreak, Paytm Founder Vijay Shekhar Sharma Turns Emotional, Takes Two-Month Pay Cut
Paytm founder Vijay Shekhar Sharma has decided to forego his salary for the next two months to help the employees who may need it during the coronavirus outbreak.
New Delhi, March 22: Vijay Shekhar Sharma who created India's largest digital payment service Paytm has decided to forego his salary for the next two months to help the employees who may need it during the coronavirus outbreak. In a recent tweet, Vijay Shekhar Sharma made the announcement and said that his inspiration was Marriott International President and CEO Arne Sorenson. The Paytm founder said he burst into tears after listening to Arne Sorenson. Coronavirus Outbreak Live News Updates.
On March 20, Arne Sorenson announced that, in light of the financial impact of the coronavirus outbreak on Marriot and the hotel industry, he would be giving up his salary for the rest of 2020. Sorenson also announced that there would be a 50 percent reduction in salaries of the Marriot top executive team members to help the company steer through the challenging times. "COVID-19 is having a more severe and sudden financial impact on our business than 9/11 and the 2009 financial crisis combined," said Sorenson. Jack Ma Joins Twitter, Says 'First Shipment of Masks & Coronavirus Test Kits to US From Shanghai to be Shipped Soon'.
"There is absolutely nothing worse than telling highly valued associates, people who are the very heart of this company, that their roles are being impacted because of events totally out of their control. I’ve never been more determined to see us through than I am at this moment," visible emotional Sorenson added. Reacting to the video message of Sorenson, Sharma said he couldn't hold his tears while watching it.
"This message becomes totally somethings else after 4:30 mins. I just couldn’t hold tears in my eyes. Inspired by Arne, I will not take my salary of this month & next. I commit that money to any needs of @Paytm office-help-staff in these testing times," Sharma tweeted.
Vijay Shekhar Sharma's Tweet:
The Paytm founder has been vocal over the past few weeks about the coronavirus outbreak and suggested measures for businesses and startups to survive "these testing times". India has reported 315 coronavirus cases so far and four deaths.
(The above story first appeared on LatestLY on Mar 22, 2020 10:41 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).