Top bosses at Woolworths forego 30% of salaries
The Southern African Clothing and Textile Workers' Union (SACTWU) has welcomed Woolworths' move to slash 30% of it's CEO's, boards and senior executives salaries over the next three months.
The move comes in a bid to cover the costs of its staff due to financial pressure on the business brought upon by the 21-day lockdown.
South Africa entered Day 13 of a nationwide lockdown aimed to curve the spread of the coronavirus pandemic. To date, there has been 13 confirmed deaths and 1 749 infections nationally.
According to the gazetted lockdown regulation, non-essential stores must remain closed during the lockdown. Woolworths has had to temporarily close its fashion, beauty and home departments during this time.
READ: Constitution allows for lockdown extension
On Monday, the retail giant announced that, "In recognition of the challenging circumstances, the WHL Board, Group CEO and senior executive team members have decided to forego up to 30% of their fees and salaries over the next three months. The savings arising from this will be used to provide additional financial support to staff who find themselves in extreme hardship as a result of the current crisis."
SACTWU's Deputy General Secretary, Membinkosi Vilina says the action should be hailed.
"In light of Woolworths cutting its board's salaries in order to pay staff, this is an action that needs to be applauded. It shows some kind of care for the vulnerable workers.
Vilina says the union has been in talks with other industry giants in the clothing and textile sector.
"We have reached a historical agreement in these industries. The employers will have to contribute from their pockets to assist workers during the lockdown."
"I can say to you now, that these agreements have been submitted to the Department of Labour and Employment and have been gazetted. They are now enforceable in law. That is a very important thing that has happened in the clothing and textile sectors."
