By: (AP) Hong Kong's
South China Morning Post, a leading English-language newspaper, said Monday that it was cutting the wages of 241 of its employees by up to 10% following a warning that its profits would be hurt by the outbreak of SARS.
Public Affairs manager Prudence Lai said employees earning between 30,001 Hong Kong dollars ($3,846) and 70,000 Hong Kong dollars ($8,974) monthly would have their wages cut by 5%, and those paid more than 70,000 Hong Kong dollars would receive a 10% pay cut.
She said that 17% of the newspaper's 1,400 staff would be affected by the pay cuts, effective June 1.
The
South China Morning Post said last week that the outbreak of severe acute respiratory syndrome in the territory would hurt the company's earnings for the first half of this year.
It said advertising revenue was down 30% in the period from April 1 to May 11 compared with a year earlier, and that company directors were taking steps to cut spending and control costs.
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