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Top bosses of South Africa’s FirstRand will take a one-third pay cut for three months, with the money to go to its fund focused on boosting critical healthcare capacity in the country in the coronavirus crisis, the bank said on Saturday.
Chief executive Alan Pullinger, chief financial officer Harry Kellan and chief operating officer Mary Vilazaki will all have their salaries reduced after President Cyril Ramaphosa cut top officials’ salaries by the same amount on Thursday and called on others, including business leaders, to do the same.
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