No pay hikes for 1/5th of private businesses: Grant Thornton

Indiainfoline.com 26/02/2009

Employees at nearly one fifth of privately held businesses (PHBs) around the world could see no salary increases in the year ahead. Research from the Grant Thornton International Business Report reveals that 21% of businesses plan to offer no pay rise in 2009 while 3% of businesses actually expect to reduce pay. At the same time only 10% of businesses expect to increase pay above the rate of inflation.