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NWC unveils wage cut guidelines to sustain businesses, jobs amid Covid-19 outbreak

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Deputy Prime Minister Heng Swee Keat said in his Supplementary Budget speech last week that the Prime Minister, Cabinet ministers and other political office holders, as well as the president, will take a three-month pay cut.

Singapore

IF WAGES have to be cut at all because company bottom lines have been hit by the virus outbreak, the National Wages Council (NWC) recommends that the cut be made in the Monthly Variable Component (MVC).

The MVC, which is part of workers' basic monthly wage, should only be...

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