May 1, 2020 / 12:37 AM / a month ago

BRIEF-Reliance Worldwide To Scale Back Manufacturing Operations In Australia

May 1 (Reuters) - Reliance Worldwide Corporation Ltd :

* IN AUSTRALIA, TO SCALE BACK MANUFACTURING OPERATIONS FROM 5 TO 4 DAYS A WEEK, FROM WEEK OF 11 MAY

* DISESTABLISHMENT OF ABOUT 20 PERMANENT ROLES ACROSS RWC’S US OPERATIONS

* CEO & EXECUTIVE TEAM MEMBERS HAVE AGREED TO A TEMPORARY 20% REDUCTION IN BASE SALARIES FOR AN INITIAL TWO-MONTH PERIOD

* NON-EXECUTIVE DIRECTORS HAVE AGREED TO A TEMPORARY 20% REDUCTION IN FEES FOR INITIAL TWO-MONTH PERIOD Source text for Eikon: Further company coverage:

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