EVEN THE CRONIES START TO FEAR – TYCOON VINCENT TAN’S BERJAYA GROUP & TAN CHONG START AUSTERITY MEASURES INCLUDING PAY CUTS

EVEN THE CRONIES START TO FEAR – TYCOON VINCENT TAN’S BERJAYA GROUP & TAN CHONG START AUSTERITY MEASURES INCLUDING PAY CUTS - Hello loyal readers FeedGoogle, In the article you are reading this time with the title EVEN THE CRONIES START TO FEAR – TYCOON VINCENT TAN’S BERJAYA GROUP & TAN CHONG START AUSTERITY MEASURES INCLUDING PAY CUTS, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

KUALA LUMPUR (Bernama): More local corporates have started to implement austerity measures to sustain their operations during the movement control order (MCO) imposed by the government to curb the Covid-19 pandemic. Aside from the pandemic, companies are seen to be cautious on other challenging factors, such as the expectation of an impending global recession this year. According to documents sighted by Bernama, Tan Chong Motor Holdings Bhd (TCMH) and Berjaya Corp Bhd have decided to implement austerity measures to protect the companies. TCMH’s independent directors have offered to reduce their fees with immediate effect during its current zero revenue period, while senior management employees will also be taking salary cuts of between 20% and 30%. Non-senior management employees will also undergo salary cuts of between 3% and 15% based on their total monthly basic salary plus mon…