Newspaper staff face 20pc pay cut

The Tin Tin Daily News last night announced a staff salary cut of up to 20 per cent, citing the economic downturn as the reason.

The management of the newspaper owned by Sing Tao associate Culturecom Holdings met employees of different sections to break the news.

It was announced that staff receiving a monthly salary of more than $10,000 would lose 20 per cent, effective from the middle of the month.

Those earning less than $10,000 would get no more than $8,000 after the adjustment. New contracts will be signed with the staff within a month.

Those who object to the new arrangement are likely to receive letters to terminate their service.

It is believed that hundreds of staff will be affected under the policy. The management has assured staff that a salary increase will be made when the financial situation improves.