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BRIEF-Shekel Brainweigh Says 22% Of Employees In Israel Are On Unpaid Leave

Published 31/03/2020, 12:42 pm
SBW
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March 31 (Reuters) - Shekel Brainweigh Ltd SBW.AX :

* 22% OF EMPLOYEES IN ISRAEL ARE ON UNPAID LEAVE AS OF 19 MARCH 2020

* EXCEPT FOR EMPLOYEES ON PRODUCTION LINE, REMAINING EMPLOYEES CUT WORKING TIME & SALARIES TO 60-80 PER CENT

* MANAGEMENT & BOARD MEMBERS TOOK A 30% VOLUNTARY PAY CUT FOR 60-90 DAYS

* APPLYING FOR A BUSINESS LONG TERM LOAN OFFERED BY ISRAELI GOVERNMENT IN AN ELIGIBLE AMOUNT OF US$1.25 MILLION

* BOTH FACTORIES IN CHINA ARE OPERATIONAL AND WORKING TO COMPLETE ORDERS FOR DELIVERY IN APRIL-MAY

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