Ayala Launches COVID-19 Response Package Worth P2.4 Billion to Support Its Employees
The bayanihan of big businesses continues. After San Miguel announced it would be working nonstop to provide the country with food, and after SM announced it would be donating P100 million to Philippine General Hospital, Ayala Corporation is joining their ranks as it moves to support all of its employees through a whopping P2.4 billion COVID-19 emergency response package.
In a statement posted by brothers Jaime and Fernando Zobel de Ayala, the current heads of the Ayala Corporation and family, the billion-peso package will be used to make sure that no one gets left behind. The package will cover: wages, bonuses, leave conversions, loan deferments, and rent coverage of Ayala partners and Ayala Corporation employees under its various subsidiaries, which include Globe, Manila Water, Ayala Land, and more.
This is intended to support “the extended workforce of our partner employers so they may continue to be paid for the duration of the quarantine period,” based on the statement.
“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,” said the Ayalas.
Salary coverage and waived rent
As part of the package, P600 million will be allocated to the continued salary for workers at its construction sites, malls, and retail spaces. Meanwhile, Globe will be rolling out P270 million for its retail store support staff and vendor partners. Another P130 million will be reserved for personnel-related financial support for all Ayala companies.
This will cover all employees ranging from construction workers and security guards to retail workers and service providers.
The main part of the package will be the P1.4 billion coverage for rent condonation to cover the rent-free period for stores in malls that will be closed during quarantine.
The financial relief brought by this emergency package will ensure that Ayala employees will continue to get their salary during the quarantine period. They will also reportedly get their mid-year bonuses starting today, when it is normally scheduled for April.
Earlier today, Ayala Healthcare Holdings (AC Health) announced that it had donated over 10,000 N95 masks to public hospitals around Metro Manila.