March 24, 2020 / 3:32 AM / 16 days ago

BRIEF-Vista Group Freezes Hiring, Management Pay Cut Due To COVID-19

March 24 (Reuters) - Vista Group International Ltd:

* HIRING FREEZE HAS BEEN IMPLEMENTED ACROSS GROUP

* DIRECTORS HAVE REDUCED THEIR DIRECTORS’ FEES BY 30%; CEO HAS VOLUNTARILY REDUCED HIS SALARY BY 30%

* GROUP COMPANIES - MACCS, POWSTER, AND NUMERO - SO FAR NOT SEEN SIGNIFICANT IMPACT TO THEIR BUSINESS

* CONTRACTOR RESOURCES HAVE CEASED WITH IMMEDIATE EFFECT, EXCEPT WHERE RESOURCES ARE REQUIRED FOR ESSENTIAL WORK

* MARKETING SPEND HAS BEEN REVIEWED AND REDUCED WITH MAJORITY OF INDUSTRY TRADE SHOWS CANCELLED OR DEFERRED

* VISTA GROUP COMPANIES SERVING STUDIO SEGMENT OF FILM INDUSTRY HAVE SO FAR NOT SEEN SIGNIFICANT IMPACT TO THEIR BUSINESS

* SENIOR LEADERSHIP TEAM VOLUNTARILY REDUCED SALARIES BY 25% Source text for Eikon: Further company coverage:

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