Skip to content

CRN: While State-Owned Companies Suffer Big Losses, Management Pay Remains the Same

China Review News (CRN) recently reported on the labor cost control issue in companies that the central government owns. Since the beginning of this year, these large companies have suffered major financial losses in the market. Meanwhile, between January and June, state-owned companies faced cost increases of 12.8%. The issue of the cost of labor has become a big headache. From central government officials to average workers, all are complaining about the fact that the management staff of these large companies still receives the same high pay, regardless of the performance of the business. Across the board labor cost control policies are being implemented in state-owned companies as an answer to the decline in sales that taking place everywhere. 
Source: China Review News, August 17, 2012