Usually, usually, the prospect of a ‘salary cut’ would mean a few things in general:
- Instant noodles for the next month
- No more dumzi dumzi (unless there’re guest lists and a couple of drinks involved)
- Crying in front of the wall and bemoaning how your life sucks
But on very rare occasions, the prospect of a ‘salary cut’ doesn’t really mean the things above. And should you be wondering why…
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It’s because even after the pay cut, the salary’s still too damn high, as our dear Netizens would come to find out.
Singtel CEO’s Pay Has Dropped to $3.5m a Year
According to TODAYonline, Singapore Telecommunications (Singtel) chief executive officer Chua Sock Koong has had her annual package nearly halved in what’s believed to be a year hit by “a perfect storm”, a notion that caused the telco to face a 44 per cent drop in net profit.
As such, Ms Chua had to contend with an annual package of S$3.5 million, inclusive of bonuses and benefits such as car benefits, medical coverage and club membership, a far cry (43 per cent) from the S$6.1 million she made just the financial year before.
According to Singtel’s latest annual report, the amount excludes performance shares and share option expenses.
Just last month, Singtel recorded a net profit of S$3.1 billion for the 12 months ended March, its lowest annual net profit in 16 years. This was around 44 per cent lower than the S$5.5 billion it made a year ago.
Singtel’s cybersecurity business Trustwave is believed to have sustained losses of around S$102 million before interest and tax for the financial year.
The Digital Life division also recorded losses throughout the year, with Amobee going through a pre-tax loss of S$42 million.
Netizens are ‘triggered’
When the news came out, netizens were quick to jump into the fray (of the comments section). And being the nice guys and girls they were, they naturally expressed their condolences for Ms Chua.
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Yeah, our Netizens sure are nice. Sniff Singapore pride.
But of course, some had to ruin the party.
A tough move to make, considering the distress Ms Chua must surely be facing.
It’s kinda ironic though; when you don’t have a pay cut and you still earn like 0.000001% of what Ms Chua earns.
And that’s how the cookie crumbles, is that it?
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And so…Â now what?
Well, for starters, I guess we better go back to work. Gotta earn that dough to make the cookie crumble, right?
And for seconds…
Let’s lose the salt and start being more chivalrous alright?
A $2.6m pay cut is a lot.
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