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SINGAPORE : MediaCorp said it will phase out its cost-cutting measures and restore full pay for its staff due to improving business conditions.
For the first quarter next year, MediaCorp staff will not need to work on alternate short weeks under the MediaCorp Day-Off (MDO) scheme.
The MDO scheme was announced in January as a cost containment measure to reduce work hours in line with the projected drop in business due to the global economic crisis.
Monthly salaries were cut by 10 per cent and MediaCorp staff, in return, were to receive 26 days off for the financial year starting in April 2009.
Under the revised plan, MediaCorp said it will now cancel six of those scheduled MDOs for the January-March quarter and restore full pay accordingly.
Two other MDOs were similarly cancelled earlier in November. - CNA /ls
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