Sembcorp CEO cuts his pay in half during coronavirus crisis

The CEO of Sembcorp Marine cut his pay in half during the coronavirus crisis. The rest of the management and employees also have their pay reduced in an attempt to scale back costs at the Singapore-based shipbuilder.

Photo: Edgar Su/Reuters/Ritzau Scanpix

Shipbuilder Sembcorp Marine has been hit hard by the coronavirus crisis, and the group now introduces concrete measures aimed at reducing costs.

CEO Wong Weng Sun takes a 50 percent pay cut, while senior management employees around him take a 15 percent pay cut. Mid-level managers see their pay reduced by 10 percent, and the rest of the employees will have their pay reduced by 5 percent, says the company in a press release.

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