India: Bounce announces 20-60% pay cut for staff, 100% for founders

Scooter rental platform Bounce on Wednesday said that it will temporarily cut salaries of all employees, across the organization, given the uncertainty for businesses and start-ups in the country that has been caused by the virus outbreak.

Bounce founders, Vivekananda Hallekere, Varun Agni and Anil Giriraj have announced a 100% pay cut in their salaries, while the rest of staff have agreed to forgo 20-60% of their compensation.

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