SINGAPORE - Singapore Post (SingPost) has initiated a hiring freeze and will be reducing the pay of some of its upper-level management employees from April.
These temporary measures to tackle the impact of the Covid-19 outbreak were announced by the company's group chief executive officer Paul Coutts in an internal message to staff on Wednesday (March 4).
Mr Coutts said that since the Government and leading businesses have taken the lead in implementing internal company policies to offset the impact of the outbreak, SingPost would implement measures amid this uncertain and challenging environment "in a show of solidarity".
From Wednesday, a hiring freeze will be applied across the entire organisation, with the exception of essential roles.
From April 1, all employees who are senior vice-presidents and above at SingPost will have their pay reduced by 5 per cent.
Those ranked assistant vice-president and above will have their pay and promotion increments frozen.
Staff who are ranked senior manager and below will not be affected by the new measures.
Mr Coutts said the temporary measures will be reviewed on a quarterly basis by the management committee.
He told the staff: "We seek your support as we tighten operations and practise prudence in our spending against the backdrop of a weaker economic outlook. Our growth plans for the future of SingPost will not be affected and I cannot wait to share more on the next phase of our strategy once we turn the tide against the epidemic."