Ayala Corp. announces P2.4-B package for employees; MVP Group to continue paying its workers » Manila Bulletin Business

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

Ayala Corp. announces P2.4-B package for employees; MVP Group to continue paying its workers

Published

By Noreen Jazul

Ayala Corporation and MVP Group will continue to pay their employees amid suspension of work due to the enhanced community quarantine imposed all over Luzon.

Jaime Augusto Zobel de Ayala and Manny V. Pangilinan (Facebook / Bloomberg / MANILA BULLETIN)

Jaime Augusto Zobel de Ayala and Manny V. Pangilinan (Facebook / Bloomberg / MANILA BULLETIN)

On March 17, Ayala Corporation Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala and President and Chief Operating Officer Fernando Zobel de Ayala announced a P2.4 billion COVID-19 emergency response package for its workforce.

The package consists of “wages, bonuses, leave conversions, and loan deferments primarily for the extended workforce of our partner employers so they may continue to be paid for the duration of the quarantine period.”

From the P2.4 billion, P600 million will be allocated for “salary continuance for displaced workers from construction sites, shuttered malls, and retail spaces of Makati Development Corporation and the Ayala Malls group.”

“Globe Telecoms has earmarked P270 million for its retail store support staff and vendor partners while all other Ayala companies will reserve another P130 million in personnel-related financial support,” the Ayalas said.

The Ayala Corporation also waived rental fees for its malls which were not allowed to operate during the enhanced community quarantine, from March 16 to April 14.

“The total package will be worth around P1.4B in rent condonation to provide the merchants of these malls financial relief so they can, in turn, provide the much-needed financial support for their employees during this period,” the Ayalas added.

Aside from providing continued salary and financial support to its employees, Ayala has also “postponed or delayed employee loan payments due to the Ayala Multi-Purpose Cooperative and have introduced special financial assistance programs at subsidized rates.”

The MVG Group also announced that it will maintain the salaries and benefits of employees amid the COVID-19 crises in the country.

“Heeding the President’s call tonight for business – large or small – to rise to the challenge posed by COVID-19, the MVP Group is one with the President in coping with this virus. We are helping our employees by maintaining their salaries and benefits during the crisis,” Manny V. Pangilinan said on Twitter.

Employees of Philippine Long Distance Telephone Company and Smart Communications Incorporated and Meralco will also receive in advance their 13th-month pay in full, according to Pangilinan.

Aside from implementing a work from home setup, Pangilinan said vacation and sick leaves of all MVP group employees affected by work suspension will also not be used.

Vitamins have also been ordered for their employees particularly for their field personnel.

“Initially, around 500,000 vitamin tablets will be delivered starting tomorrow,” he said.

Pangilinan said their group of hospitals is doing the best it could to “cope with the rising traffic of PUIs and those confirmed positive with the virus,” by sending frontline health workers “in needed areas and importing face masks and PPEs.”

“The group will be helping frontliners by donating an initial supply of alcohol of 4,000 liters from Roxas Holdings for government and Group hospitals by tomorrow. We will be raising more funds to help in the coming days,” he added.

Related Posts