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EOH slashes salaries of execs and high-earning workers to cope with Covid-19

7 April 2020 7:29 PM
Tags:
The Money Show
Bruce Whitfield
EOH
Stephen Van Coller
Coronavirus
COVID-19
Coronavirus in South Africa
covid-19 in south africa

The Money Show’s Bruce Whitifield interviews EOH CEO Stephen Van Coller.

EOH is cutting the salaries of its employees – including its executives – to help it cope with Covid-19.

The company will cut its executive committee salaries by 25% and proposes a 20% cut in salaries for those who earn more than R250 000 per year.

EOH is buckling under the weight of its debt, which totals more than five times its market cap.

The Money Show’s Bruce Whitfield interviewed EOH CEO Stephen Van Coller.

We’ve been through a year of crisis…

Stephen Van Coller, CEO - EOH

We’ve seen a lot of demand for our products around remote working… We’ve seen a big demand for hardware…

Stephen Van Coller, CEO - EOH

We’re very systemic to South Africa… We don’t know what’s coming… We cannot afford more joblessness in this country…

Stephen Van Coller, CEO - EOH

We’ve given our staff certainty for the next two months… it’s the most responsible thing for corporates to do… a global recession is coming at us.

Stephen Van Coller, CEO - EOH

For more detail, listen to the interview in the audio below.

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7 April 2020 7:29 PM
Tags:
The Money Show
Bruce Whitfield
EOH
Stephen Van Coller
Coronavirus
COVID-19
Coronavirus in South Africa
covid-19 in south africa

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