Sri Lanka, April 9 -- Softlogic Holdings PLC has announced salary cuts for all employees who are earning above Rs.50,000, in the range of 5 percent to 30 percent, as a measure to cope with the economic fallout of the coronavirus pandemic.

The company also requested the employees to work extra hours without overtime pay as a cost-saving measure to minimise job losses and to stay afloat as the diversified conglomerate's revenue has taken a hit from the adverse impacts stemming from the virus.

"The unprecedented lockdown in the country with curfew being imposed from March 17, 2020 and which continues unabated to date, erodes the group's performance with most companies being closed for business," Softlogic Holdings Chairman Ashok Pathirage ...