Vietnam’s state-owned Petrovietnam has cut the salaries of its employees as part of a plan to reduce costs by 15% to 30% as the company’s bottom line suffers from lower oil prices and the Covid-19 pandemic. "Because of the double impact of the epidemic and low oil prices, the March results of the group and its subsidiaries were harmed and Petrovietnam is expected to continue to face great difficulties in the second quarter and even the whole year,” the company said in a statement, stopping short from disclosing more detailed financial data.
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