Ayala to give P2.4-billion relief package to employees, partners amid COVID-19 Luzon lockdown


Posted at Mar 17 2020 06:52 PM

MANILA - The Ayala group said on Tuesday it was rolling out a P2.4-billion relief package for employees and partners affected by the enhanced quarantine imposed over Luzon due to the coronavirus disease 2019 (COVID-19) outbreak. 

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

“In these most trying times, those significantly affected by the COVID-19 situation are the thousands of workers that will be affected by the enhanced community quarantine because their places of work have been closed,” the Ayala group said in a statement signed by Ayala Corp chairman and CEO Jaime Augusto Zobel de Ayala, and president and COO Fernando Zobel de Ayala.

The relief package is meant to benefit workers who are largely on a no work, no pay type of employment, Ayala said. 
“These include P600 million in salary continuance for displaced workers from construction sites, shuttered malls and retail spaces of Makati Development Corporation and the Ayala Malls group.” 

Ayala Malls will also be providing a rent-free period for malls that are not allowed to operate during the community quarantine from March 16 to April 14, the group said.

The rent condonation, which is worth around P1.4 billion, will allow merchants of these malls financial relief so they can in turn provide financial support for their employees during this period.

Globe Telecoms, meanwhile, has earmarked P270 million for its retail store support staff and vendor partners. Other Ayala companies will reserve another P130 million in personnel-related financial support, the group said.

Ayala said it is also providing salary continuance and financial support to its employees where possible as most of these employees will be getting their mid-year bonuses normally paid in April starting Tuesday through the end of March. 

Employee loan payments due to the Ayala Multi-Purpose Cooperative have also been postponed or delayed, while special financial assistance programs will be given at subsidized rates.