“The austerity measures also include readjustment of employees’ salaries between five to 45% across the board effective after Ramadhan; and the reduction of workforce, ” Sapura Energy president and group CEO Tan Sri Shahril Shamsuddin said in a note to employees.
KUALA LUMPUR: Sapura Energy Bhd
’s top management has taken a 50% salary cut as part of the internal austerity measures with immediate effect to preserve its cash flow.
A company statement on Monday, it said the pay cut was to mitigate the impact of the Covid-19 pandemic and the resulting low oil prices.
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