CEPEP Cuts Salaries To Save Jobs

The Management of The CEPEP Company Limited says the decision to reduce workers’ salaries at this time will safeguard the jobs of its employees, which is the Company's main priority at this time. CEPEP's Board of Directors met last week and took a decision to reduce the working hours of workers to four hours per day and reduce the teams by 50%. This means each worker will be working two days per week and a maximum of eight days per month. CEPEP says this will result in a reduction in their salaries by 33.3% and will also affect the management fees of contractors. The Company says these measures will ensure that there is no job loss at CEPEP.