Earlier this week, Citybus and New World First Bus imposed an immediate salary freeze for a year because of the economic turmoil caused by the coronavirus. Both companies reaffirmed they did not have plans to implement layoffs or salary cuts at the moment.
A spokesperson for the buses explained there had been a significant decline in passenger numbers due to the pandemic. Even with its cost-cutting measures, and subsidies offered by the government recently, it was not possible to turn the table on its revenue losses for this fiscal year. Not to mention that the government has paused its application for fare adjustments.
Citybus and New World First Bus’ competitor, the Kowloon Motor Bus, has also endured a significant loss in passenger numbers over the past few months. The company does not plan to axe staff, reduce salaries or ask staff to go on mandatory no-pay leave.
Meanwhile, cosmetics chain Sasa also announced this week several belt-tightening measures, including cutting non-essential spending, salary cuts and mandatory no-pay leave.
The story was first reported by RTHK.