Publicly-listed Free Bird Institute moves into second phase of cost-cutting
22 May, 2020, 3:56 pm
Publicly-listed company Free Bird Institute has amended its operating hours as the institution moves into its second phase of cost-cutting measures in response to the impact of the global COVID-19 pandemic.
In its market announcement issued via the South Pacific Stock Exchange (SPSE), the company advised that effective June 1, 2020, its business operating hours would be between 9am and 5pm from Monday to Thursday.
“With the low student numbers and the current restrictions in place, we have decided to operate our school and back office for four days only in a week,” Free Bird chief operating officer Mereseini Baleilevuka said.
She said those operational hours would continue until August 31, 2020.
All employees will only be required to work the four days, and a day off every Friday as leave without pay.
“We have tried as much as possible to delay the impact COVID-19 on our employees who have continued to work but unfortunately, we have come to a point where it is only prudent that a company-wide cost-cutting measure must be implemented,” M Baleilevuka said.
Free Bird Institute CEO Hiroshi Taniguchi said: “We are in unprecedented and uncertain times and, therefore, our decisions will continue to evolve around the current changing situations.”