Mediacorp to cut costs
It will implement a four-day work week every other week affecting all employees, among other measures. -ST
Robin Chan
Fri, Jan 09, 2009
The Straits Times
MEDIA giant MediaCorp has started a cost-cutting drive, which will see the broadcaster shutting down operations and scaling back staff benefits.
Citing the economic slowdown which has affected the company's bottom line, the measures were announced to staff in an internal email from MediaCorp chief executive Lucas Chow on Friday afternoon.
The four cost-cutting measures, which were confirmed by a MediaCorp spokesperson, include seven enforced common leave days where operations will be shut down, to reduce wages and utility costs.
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