Jan. 19 (Bloomberg) -- Singapore’s government said it will cut the salaries of its top public workers and ministers as a “sharp” recession threatens to increase job losses and hurt lending this year.
The top government salaries will fall 12 percent to 20 percent in 2009 and “may be subject to further adjustments given the volatility of the economy,” Teo Chee Hean, the defense minister who’s also in charge of the civil service, said in parliament today. The reductions are deeper than the pay cuts the government said it was planning in November.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aaSJ5d9DuXkc
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment