EOH slashes salaries of execs and high-earning workers to cope with Covid-19
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.
Millions of people in South Africa’s livelihoods depend on tourism, says Manny De Freitas (DA Shadow Minister for Tourism).Read More
Clement Manyathela interviews Eskom spokesperson Sikhonathi Mantshansha.Read More
Anelda Martin is the owner of the Goddess Cafe in Pretoria and she is looking to revive the roadhouse.Read More
Oceana fishing has deferred their interim dividend payout due to Covid19, but says all is well.Read More
Absa is ending its R140m a season sponsorship of SA’s Premier Soccer League (PSL), after a 13-year relationship.Read More
Covid-19 and race riots - is President Donald Trump's re-election campaign collapsing?Read More
Tips and tricks to fight dampness and mould without breaking the bank, by remedial building consultant Angelo d’Ambrosio.Read More
We can thank our lucky stars that Lesetja Kganyago - the world’s best central banker – is ours. Kieno Kammies interviews him.Read More
FlySafair CMO Kirby Gordon says research shows keeping a seat open or 'neutralised' does not stop the spread of Covid-19.Read More
Car rental firms may soon start flooding the second-hand car market at a time when demand is non-existent, says Lance Branquinho.Read More