Widespread salary cuts on cards at China Mobile

China Mobile Communications Corp, the nation's largest telecom carrier, said on Thursday that it was implementing salary cuts for its top brass, amid mounting pressure to provide better services at lower prices.

The telecom carrier said it has already restructured the salaries of its high-ranking employees and plans to extend it across the whole group.

The company's response comes after a report in Caijing magazine said that department managers at China Mobile may see their annual salaries cut by as much as 50 percent, while senior executives at provincial branches may see reductions of 40 percent.