- LEC employees suffer pay cuts
- Pay cut to be implemented this June
- Financial challenges to blame
In a memo, Liberia Electricity Corporation (LEC) has asked employees to prepare for a pay cut. In a memo from the Management to staff, the LEC says it will slash staff salaries by 30% this June. The decision to slash staff salaries is due to the current financial challenges of the LEC. The memo states power theft as one of the challenges affecting the financial stability of the company.
The LEC has stated that the pay cut will continue until the LEC resolves its financial challenges. “This situation will continue with all subsequent salary disbursement until there is an improvement in the financial state of LEC”, the memo stated.
The LEC further stated that once the financial challenges are resolved, employees will be repaid. ”Please note, this exercise is not a salary reduction, but a necessary course of action by the LEC at this point, due to the current cash flow state of LEC”, the memo stated.