Domestic Brief Pay cuts, downsizing, and more
FROM
ISSUE #112 (20 SEPT 2002 - 26 SEPT 2002)
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If you are upset about the increase in income tax (up from 10 percent to 15 percent) starting this Nepali month, don't be. There's worse coming. Government, semi-government and private employers are all downsizing. The Timber Corporation of Nepal bid farewell to 220 employees effective 17 September, while the struggling Nepal Industrial Development Corporation has already announced that it wants to do away with 56 of its 226 employees. Official data is not available, but private sector hotels, airlines and other tourism enterprises are all cutting jobs drastically, or sending a large number of employees on long, mandatory vacations.
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