Bloomberg.com, 21 Nov 2008, Chen Shiyin
Nov. 21 (Bloomberg) -- Temasek Holdings Pte, Singapore's state-owned investment company, plans to cut salaries and said a worldwide recession may extend beyond 2009.
The firm, which oversees $130 billion, said senior management has volunteered a 15 percent to 25 percent pay cut. The key managers will provide almost 90 percent of the savings from the companywide cut, it said in an e-mailed response today to a Bloomberg News query.
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