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SOEs ordered to cut salaries and reduce costs

By Du Juan ( China Daily ) Updated: 2015-06-05 07:27:15

All wages are to be strictly linked to business performance and loss-making divisions closed

State-owned companies with declining profits have been told to cut gross salaries and other operational costs, the State-owned Assets Supervision and Administration Commission said in a statement on Wednesday,

It said all SOEs should be prepared to shut down loss-making operations to slash costs and improve efficiency across all departments, to ensure annual targets are met.

SOEs ordered to cut salaries and reduce costs

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