SRV servcorp limited
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News: SRV Servcorp Says CEO Has Reduced His Salary By 50%

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    03/04/20
    09:20
    Post #: 43854910

    April 3 (Reuters) - Servcorp Ltd (SRV) :

    • ANTICIPATE, AND ARE PLANNING FOR, A SIGNIFICANT BUT TEMPORARY REDUCTION IN SERVICED OFFICE OCCUPANCY AND COWORKING UTILISATION
    • TO STAND DOWN OR MAKE REDUNDANT MORE THAN 100 TEAM MEMBERS GLOBALLY
    • MAJORITY OF REMAINING TEAM MEMBERS HAVE AGREED TO REDUCE THEIR SALARY BY 20%
    • NON-EXECUTIVE DIRECTORS HAVE SIMILARLY AGREED TO A REDUCTION OF FEES BY 20%, AND CEO HAS REDUCED HIS SALARY BY 50%
    • CEO HAS REDUCED HIS SALARY BY 50%
    • COVID-19 UPDATE
    • LANDLORDS ARE FAVOURABLY CONSIDERING RENT REDUCTIONS
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