Brandix CEO
Big businesses, especially airlines, around the world have been doing this for months. Highly-profitable (and State-owned)
Brandix is our biggest exporter, but the collapse in demand around the world is hitting it hard. The situation will be much bleaker for most other companies. The situation will only get worse in the coming year. Job losses are unavoidable, and many businesses will run out of cash and go bankrupt.
To survive and preserve our economic base, businesses will have to take drastic measures to cut their outflow of cash. Firing people or going bankrupt is the worst outcome. Having cut taxes for decades, our government doesn't have the money to bail out companies or give money to people who lose their jobs.
Cutting pay is the best choice. But managers can't ask the lowest paid - who need an income the most - to accept sacrifices, if the highest paid staff do not set an example. This also means cutting dividends to owners to preserve cash.
We all have to accept some pain. People will accept this is more if the most vulnerable are protected and the better-off bear more of the burden.
So thank you Brandix! Leading by example is what real CSR is about.
As for
Since I avoid politics, I offer no advice to the President, ministers and our other elected representatives on what they should do.
© Pakistan Press International, source