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Lockdown measures sees some firms cut back work hours, salaries

Pam Golding CEO Andrew Golding said that the company was virtually making no profit during the lockdown and they'd had to cut salaries and work hours for some by 30%.

Picture: 123rf.com

JOHANNESBURG - It looks set to be a tough month for some South Africans, with companies and service providers saying they'll battle to pay full salaries.

Some entities have announced various measures, including reduced work hours for employees, to address the effects of the lockdown.

Tech giant EOH and property heavyweights Pam Golding are among the first companies to announce response plans.

Pam Golding CEO Andrew Golding said that the company was virtually making no profit during the lockdown and they'd had to cut salaries and work hours for some by 30%.

"The Deeds Office is closed so any transactions that were in process, can't be processed and then in addition to that, given the lockdown, which we completely support, there is an inability of agents to effectively transact."

EOH will release its interim results on Tuesday after working to stabilise its share price amid the discovery of serious irregularities.

But if its anything to go by, the company has already indicated that it would cut April salaries by 20% and the work week to 4 days.

Despite all of this, Standard Bank Insurance has given its clients a bit of relief.

They have implemented 25% cashback relief for their clients for driving less during this period.

WATCH: Timeline: A month of coronavirus in SA

For official information about COVID-19 from the Department of Health, please click here.

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