Brief: Cathedral Energy Services Says CEO And EVP Salary Reduced By 25%

ACT Energy Technologies

20/04/2020 11:21

April 20 (Reuters) - Cathedral Energy Services Ltd  CET.TO :
    * CATHEDRAL ENERGY SERVICES CORPORATE UPDATE
    * CATHEDRAL ENERGY SERVICES LTD - CEO AND EVP SALARY REDUCED
BY
25%
    * CATHEDRAL ENERGY SERVICES LTD - BOARD RETAINER FEES
REDUCED BY
25%
    * CATHEDRAL ENERGY SERVICES LTD - 22% HEAD COUNT REDUCTION
FOR
OFFICE AND SHOP STAFF
    * CATHEDRAL ENERGY SERVICES LTD - CANADIAN NON-FIELD STAFF
MOVED
TO 4-DAY WORK WEEK AND CORRESPONDING 20% REDUCTION IN SALARY
    * CATHEDRAL ENERGY SERVICES LTD - 15% REDUCTION IN BASE
SALARY FOR
U.S. MANAGERS
    * CATHEDRAL ENERGY SERVICES LTD - ELIMINATED COMPANY
MATCHING
CONTRIBUTION TO EMPLOYEE RETIREMENT SAVINGS PLANS
    * CATHEDRAL ENERGY SERVICES LTD - SUSPENDED MOTOR REPAIRS AT
EMERALD PARK, SASKATCHEWAN FACILITY
    * CATHEDRAL ENERGY SERVICES LTD -  REDUCED EXPENDITURES ON
CAPITAL
ASSETS AND EXPECT "NET EQUIPMENT ADDITIONS" TO BE A CASH INFLOW

Source text for Eikon:  ID:nCNWZtqjfa 
Further company coverage:  CET.TO 

 ((Reuters.Briefs@thomsonreuters.com;))