CLSA expects senior staff will take pay-cuts

The firm has asked roughly 500 employees to take a voluntary pay-cut and expects that at least 75% of those approached will choose to reduce their salaries.

Last week, Hong Kong-headquartered brokerage CLSA Asia-Pacific Markets asked approximately one-third of its senior staff across all 17 regions and departments to consider taking a voluntary pay-cut of up to 25% beginning in January 2009. As of late Monday, the response rate, according to the firm, was very positive.

The cut-off date for saying yes or no was yesterday, and the firm anticipated at least 75% of the people they asked to consider taking a pay-cut would opt in....

To continue reading, please login or register for free

Click for more on: clsa | pay cuts

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...