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BusinessLive reports that retailer Woolworths will continue to pay staff during the Covid-19 shutdown, while senior management will forgo up to 30% of their fees and salaries over the next three months to provide additional support to employees.
The group also said in a trading update that those who were part of the essential workforce would receive an additional appreciation payment. Woolworths advised it was cutting back on capital expenditure and prioritising online sales. It expects profits to fall by more than a fifth in its year to end-June. “The majority of our food stores currently remain open. Our strong supplier partnerships are ensuring a consistent supply of product during this critical time,” the group said.
- Read the full original of the report in the above regard by Karl Gernetzky at BusinessLive
Get other news reports at the SA Labour News home page