Brief: Amica To Reduce Working Time, Cut Salaries Due To Coronavirus Pandemic

Amica SA

17/04/2020 11:15

April 17 (Reuters) - Amica SA  AMCP.WA :
    * SAID ON THURSDAY IT HAS CONCLUDED AGREEMENTS REGARDING
WORKING
TIME AND WAGE CUTS WITH THE COMPANY TRADE UNION AND WORKER
REPRESENTATIVES AT THE COMPANY'S TWO UNITS IN ORDER TO COUNTER
THE CORONAVIRUS-RELATED ECONOMIC DOWNTURN
    * UNDER THE AGREEMENTS WORKING TIME AND BASE SALARIES AT THE
COMPANY, AMICA HANDEL I MARKETING AND INTECO BUSINESS SOLUTIONS
WILL BE CUT BY 20% FROM APRIL 20 TO JULY 19
    * ADDITIONALLY SOME TERMS ON BONUS PAYMENTS WILL BE
SUSPENDED FROM
APRIL 20 TILL END OF 2020
    * DURING THE SALARY CUT PERIOD THE COMPANY'S CEO HAS GIVEN
UP HIS
REMUNERATION IN FULL AND REMAINING MANAGEMENT AND SUPERVISORY
BOARD MEMBERS HAVE AGREED TO CUT THEIRS BY 30%
    * THE COMPANY PLANS SIMILAR AUSTERITY MEASURES FOR THE
GROUP'S
INTERNATIONAL SUBSIDIARIES, TAKING INTO ACCOUNT LOCAL RELIEF
PROGRAMS IN RESPECTIVE COUNTRIES

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM8mtT3Wa
    
 Further company coverage:  AMCP.WA  
   


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