Reduction in salaries in the pandemic and its impact on employee's spending’s & savings - A study with reference todouglas OHI Company

The main base of individual’s spending’s and savings are their income levels. Every individual spending potentiality and saving potentiality is directly linked to their daily/weekly/monthly/annual income levels. Individuals may give different priorities to their percentage of spendings and percentage of savings as per their living life styles. In generally person who can earn more can afford for more spending`s and more savings. But the sudden changes of their income levels will influence their regular spending and saving habits. Due to the reduced income levels the individuals spending`s potentiality and saving potentiality will come down. Due to the recent pandemic situation the income levels of the different individuals who are working in different fields across the world are effected and it shown the impact on their regular spendings and savings. Especially the employees who are surviving with their salaries are effected much. The sudden arrive of pandemic situation is not allowed the employees to go for their work as like as before. The jobs whichever is possible to continue with the online support are delivering by the employees with the work from home option. The other jobs where the group of employee’s personal presence is required are effected much. Most of the companies are unable to run their business as like earlier and incapable to meet its regular expenses. As a result the companies are focused on cost cutting strategies and reduced their employee salaries.