Giant Singapore wealth fund cuts bonuses as staff ‘share pains’ of coronavirus impact [MarketWatch]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: MarketWatch
Giant Singapore wealth fund cuts bonuses as staff ‘share pains’ of coronavirus impact One of the world’s biggest sovereign-wealth funds has frozen the salaries of its employees and cut the bonuses of senior management as it comes to terms with the impact of the coronavirus outbreak. Singapore’s state-owned investment firm Temasek, which manages S$313 billion ($224 billion), said the freeze would start in April and its length would be determined by market conditions. The Dow Jones Industrial Average on Monday fell more than 1,000 points , and had its worst one-day percentage decline in over a year. “These actions are part of our commitment to stand as one firm in support of our portfolio companies and the wider community,” the firm said in a statement on Tuesday. It added: “It is an important demonstration of our ownership mind-set, sharing gains and pains alongside our shareholder, and supporting our wider communities.” More than a quarter of Temasek’s holdings were in China as of Mar
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BABA
Earnings
- 2/7/24 - Beat
BABA
Sec Filings
- 4/2/24 - Form 6-K
- 3/26/24 - Form 6-K
- 2/23/24 - Form 20-F/A
- BABA's page on the SEC website