Mr. Chan stated in his text that despite efforts to lower costs since 2022, green growth remained a problem.
” Over the past few decades, we narrowed our focus, identified long-term problems that needed to be solved, and developed a more efficient operating music to maintain our momentum,” he said.
A leaner and more efficient team, which are fundamentally distinct from our current organizational structure, will be required for us to succeed, it became apparent to me at the time.
Retrenched employees may receive a package that includes give for at least two weeks of their notice, as well as a quarter of severance pay for each year of service, or based on local legal guidelines, whichever is higher.
A bonus equal to a month’s salary will also be provided, which will be prorated for those who have worked for less than a year. Unused leave can also be encashed.
Those on employment visas, meanwhile, will see their repatriation costs covered, including airfare and a budget for moving expenses.
Other features of the package include career transition support and extended healthcare coverage up until the end of June.  ,
” Undoubtedly, this is one of the hardest decisions I’ve had to make in our company’s history”, said Mr Chan.