MCO: Tan Chong, Berjaya implement austerity measures
Aside from the pandemic, companies are seen to be cautious on other challenging factors, such as the expectation of an impending global recession this year.
Non-senior management employees will also undergo salary cuts of between 3% and 15% based on their total monthly basic salary plus monthly fixed allowance, according to their grade level. He said the group's businesses in Malaysia have been greatly affected by the MCO since it began on March 18. Meanwhile, Berjaya group has taken a more comprehensive approach by implementing austerity measures effective April 1-June 30, 2020 for all companies under the group.
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