At a time when most companies are exploring ways to reduce operational costs in the wake of novel coronavirus outbreak, a Kerala-based entrepreneur has announced a salary hike to employees of Boby Chemmanur Group which is into various sectors, including the jewellery.

Initially, 25 percent salary hike will be implemented in the jewellery sector. Other sectors will be covered in a step by step manner, Boby Chemmanur, who has a presence in jewellery, finance, resorts tours and travels business among others, said in a release here.

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We are very proud of our 5 lakh strong workforce working as active partners in the growth and development in our various verticals viz; Chemmanur International Jewellers, Chemmanur Credits & Investments Ltd, Boby Chemanur (No 1) Chits Pvt Ltd, Boby Chemmanur Nidhi Ltd, Boby Bazaar, Oxygen Resorts, Boby Tours and Travels, Phygicart and a segment of the workforce will derive the benefits of the salary hike initially, he said.

Out of 5 lakh strong workforce associated with various Boby Chemmanur institutions, many of them work on a commission basis, he said. "As many as 70,000 women are partners in microfinance business. It is a joint-venture. They will also get the benefits accordingly," he told PTI.

Rajan Menon, Head-Human Resources, Boby Chemmanur International Group, said this salary revision was in recognition of their extraordinary commitment, continuity- of-service efforts and to financially support the employees and their family. The company said it has extended the facility to work from home to most of the workforce. They have been advised to strictly adhere to all the precautionary measures and instructions given by the government and the Health Department, it said.