Realtors cut pay up to 50%

Executive at real estate firms are facing job losses and salary cuts to the extent of up to 50% as sales refuse to pick up and credit remains tight. Omaxe chairman Rohtas Goel has taken salary cut of 50%. A Unitech spokesman confirmed the company had cut 10% of its 1,700 employees, and most of those who lost jobs were trainees. Delhi-based Ansal Properties and Infrastructure has also sacked 70-80 employees of its total 1,000 staff.