At a time when the economy is staring at a slowdown and companies are announcing salary cuts and layoffs, Bharti Airtel’s Chairman Sunil Mittal has announced a one-time bonus for all its employees. Mittal informed employees in a mail that they will be receiving a one-time bonus, which is being given as a token of appreciation from the board, to the employees.
The mail read, “The overriding emotion I feel is one of gratitude. To each of you for sticking in this journey and helping us navigate these turbulent times. I am sure, history will be written when we look back on all you have achieved. As a token of the Board’s appreciation, I am announcing today a one-time bonus that will be paid out to every one of you who has been with us through this ride. You will get to know the details of this scheme from your HR teams.”
While the announcement comes as a big relief for employees during these troubled times, TNM picked up from its sources in the company that the one-time bonus is only for those above the senior manager level.
The announcement also comes at a time when Airtel posted a net loss of Rs 15,933 crore in the April-June quarter of FY21 after accounting for exceptional items, where it provisioned Rs 10,744.4 crore towards its Adjusted Gross Revenue (AGR) dues, that it has to pay as per the directions of the Supreme Court. Airtel’s net loss without exceptional items for the quarter stood at Rs 436 crore.
Speaking about the tough period everyone is going through, the Chairman mentioned in his mail, “ I know how tough this period has been for many of you and your families. But the remarkable thing is that you have ensured that Airtel comes out stronger. We are at a lifetime high in terms of market share. We continue to deliver the best experience in the industry. At the same time, you have built strong digital capabilities that will propel us to truly meet our vision of enriching the lives of our customers.”
The Chairman’s mail also recalled how in 2018, at the annual leadership Conclave in Dubai, he had mentioned about a clarion call to all employees seeking their commitment to the company for the next two years. The mail mentioned how the employees had remained committed and that the chairman is grateful.
TNM has reached out to Airtel requesting for clarity about when the pay-out will be and is yet to receive a response. The article will be updated if and when Airtel responds.
Team,
Over the last few years we have seen massive turbulence in our industry – from regulatory changes to free services to massive surge in capex to shut down of operators to large scale mergers.
I remember saying to many of you in March 2018 at the Dubai conclave that it will take two years for the industry to settle. I also remember the clarion call I gave to you asking you for two years of your commitment.
You did it. And for that I am extremely grateful.
I know how tough this period has been for many of you and your families. But the remarkable thing is that you have ensured that Airtel comes out stronger. We are at a lifetime high in terms of market share. We continue to deliver the best experience in the industry. At the same time, you have built strong digital capabilities that will propel us to truly meet our vision of enriching the lives of our customers.
The overriding emotion I feel is one of gratitude. To each of you for sticking in this journey and helping us navigate these turbulent times. I am sure, history will be written when we look back on all you have achieved.
As a token of the Board’s appreciation, I am announcing today a one-time bonus that will be paid out to every one of you who has been with us through this ride. You will get to know the details of this scheme from your HR teams.
My very best and thank you,
Sunil
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