Pos Malaysia: No bonus, no layoffs

Pos Malaysia Berhad has indicated the possibility of no bonus payments for its staff this year due to financial constraints as a result of Covid-19.

According to company sources, the management is in the process of attempting to balance its cash flow.

"At this moment the company's cash flow management is at the stage where all expenditures are planned in such a way so that things like salaries will not be affected.

"During this time the company's cash flow does not permit for any bonuses to be paid," said the source.

"Pos Malaysia is constantly monitoring our cash flow and will make changes (to expenditures) if permitted," the source told Malaysiakini.

This follows a viral social media post of a postman found sitting dejectedly by a curb in the rain, supposedly after being informed that there will be no bonuses for Pos Malaysia staff this year.

The postman's plight had garnered public attention and sympathy, despite acknowledgement of challenges faced across all sectors due to the pandemic.

The source, however, revealed that Pos Malaysia will not be undertaking a downsizing exercise amid these difficult times.

"There will be no Voluntary Separation Scheme (VSS) or layoffs," said the source, adding that Pos Malaysia finances are divided mainly across four segments - courier, letter delivery, retail and post office transactions, as well as international businesses.

Across the four segments, only courier services recorded an increase, while the three others faced a sharp decline of up to 60 percent.

Malaysiakini understands that Pos Malaysia had earlier disbursed RM250 in aid to 23,000 staff in conjunction with the Ramadan month. - Mkini