Colombia's state-led oil player said it has kicked off a company-wide 30% reduction in "variable compensation" for 2016, as well as echoing today's industry refrain of re-negotiating key contracts.
But the business also declared it would scrap private jet transportation in favour of commercial, while cutting other "transport service costs" for vice presidents, directors and other senior managers.
The company will also eliminate private helicopter service that is "not indispensable" and seek other ways to economise and reduce travel.
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