INDIABULLS GROUP SACKS UP TO 2,000 STAFF

Mortgage financier Indiabulls group has sacked almost 2,000 employees as it aims to contain the fallout of the disruption caused by covid, said two people aware of the development. The move comes just a month after Indiabulls said that its senior management had taken a 35% pay cut for fiscal 2021. Company chairman Sameer Gehlaut had also decided to forgo his entire salary for the fiscal, while vice-chairman Gagan Banga had opted to take a 75% cut.