Woolworths bosses will waive up to 30% of their monthly salaries for the next three months. The company released a trading statement that indicates how the COVID-19 outbreak has affected business.
The group said, “Our first priority is the health and safety of our people, our customers and all our stakeholders, including our extended value chain. In terms of our stores, distribution centres and other operations, we are working closely with our health and safety partners, ensuring that all operations continue to conform to the highest level of hygiene and social distancing protocols.
“In respect of our employees, we have implemented a range of initiatives from alternative working hours to more flexible practices, including work-from-home, leveraging a full suite of technology tools.”
The statement continues in saying that WHL Board, group chief executive officer and senior executive team members will give up a portion of their salaries to help other Woolworths staff members.
“In recognition of the challenging circumstances, the WHL Board, group chief executive officer and senior executive team members have decided to forego up to 30% of their fees and salaries over the next three months.”
The money saved from their salaries will be disseminated to financially support staff that have been heavily impacted by the outbreak and “who find themselves in extreme hardship as a result of the current crisis.”
“During the current lockdown period we will continue to remunerate all our staff, and those who are part of the essential workforce will receive an additional appreciation payment for the duration of the current lockdown period.
“Our business operations across other African markets have also been significantly constrained due to slowing demand, store and border closures in response to local government requirements and responses to the COVID-19 virus.”