After investors, RIL employees get bonus

MUMBAI: After rewarding its shareholders with a 1:1 bonus issue, Reliance Industries is offering performance-linked incentives to its employees this Diwali, though lower than last year���s. A RIL official, speaking on condition of anonymity, said they received the incentives this week. He said this time incentives ranged between 2.5%-7.5% of the annual compensation, half of last year���s pay out. RIL employees generally get the incentives in April.

Last year, the nation���s largest company by market capitalisation launched a drastic cost cutting and belt-tightening initiative to combat the global economic slowdown. Code named ���Mission Kurukshetra���, the exercise was aimed at cutting costs across all its major industrial operations ��� from refineries to petrochemicals, oil exploration to retail ���as well as across the value chain.

A senior RIL official confirmed that incentives were being paid to employees. He said: ���Mission Kurukshetra paid off well���. He, however, declined to comment on the quantum of cash outgo for payment of incentives. RIL has nearly 25,000 employees. An external spokesperson for RIL declined to comment.