Deeper pay and fee cuts for SIAEC management, directors
Singapore
THE management of SIA Engineering Company (SIAEC) is taking a deeper pay cut than previously announced, while the directors have also volunteered a larger reduction in their fees.
"In view of the massive flight cuts by airline customers and the increasingly difficult business environment, SIAEC is stepping up its measures to mitigate the severe impact," the company, which provides aircraft maintenance, repair and overhaul services, said in a bourse filing on Thursday.
The deeper reduction took effect from Wednesday. The pay cuts have increased to 25 per cent for the chief executive officer (CEO) from 12 per cent previously, and to 20 per cent for the executive vice-president (V…
A NEWSLETTER FOR YOU
SGSME
Get updates on Singapore's SME community, along with profiles, news and tips.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Swiss watch exports plunge as China and Hong Kong demand dries up
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
BP reshapes its leadership team as some executives leave company
Deliveroo returns to order growth on strong international demand
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Danone beats Q1 sales forecasts, keeps 2024 goals