76
Y, JUNE 21, 1930.
SINGAPORE SALARIES
REDUCED?
FIRMS CONTEMPLATING
ECONOMIES.
Strong rumours were current at the end of last week in Singapore that reductions of salaries of both the European and Asiatic staffs of certain firms were being contem- plated.
A series of inquiries made by a representative of the Straits Times revealed that, while there was no de- finite information yet available for publication, reductions were never- theless being contemplated by cer- tain firms. The manager of one big business house refused to deny or confirm the rumour, intimating that if economies were to be made all round they, in company with other firms, would have to adopt similar measures.
At another firm, something more tangible was revealed. The man- ager stated that he could not say definitely that salaries were to be reduced, but economies were in- evitable with the present state of trade. With tin and rubber de- pressed, there was not so much money in circulation and trade was suffering in consequence.
"If this position continues," he said, "something must be done to meet the conditions that will arise. What actual salary reduction will be made is a matter of policy that I cannot reveal.”
Another man connected with a large business house said that he believed that reductions in the salaries of European and Asiatic staffs of certain firms were being contemplated. They would, how- ever, be carried out by agreement with the staffs. Existing agree- ments would not, of course, be broken, but they might not be re- newed in cases of refusal. He was of opinion that this would be the beginning of an era of a lower standard of living among Euro-
peans.
No comments yet.
Private notes are available after approval.