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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