San Miguel employees to receive full pay during lockdown

MANILA, Philippines – San Miguel Corporation (SMC) assured all of its employees that they would continue to receive their full-time pay during the enhanced community quarantine (ECQ), which is in place in Metro Manila and select areas until May 15 to stop the spread of the coronavirus.

The conglomerate said in a statement on Sunday, April 26, that it has so far released “full compensation with benefits amounting to over P3 billion for all its 66,557 employees, consultants, and contract workers.”

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” said SMC president and chief operating officer Ramon Ang.

“We are also aware that we have a huge role to play across industries and we are lucky to be more equipped than the rest to navigate this crisis. That said, we remain steadfast in our commitment to assist government and continue providing assistance where it’s most needed.”

SMC said it will proceed with a total of P11.67 billion in tax, concession, and contractual payments to the government throughout the lockdown period.

“Of the amount, SMC has already paid government P8.77 billion, while the remaining balance will be remitted before the end of the ECQ,” the conglomerate said.

SMC’s various businesses have provided aid worth over P1 billion since the coronavirus crisis hit the Philippines. They have given cash, food, flour, disinfectant alcohol, fuel, free toll, and personal protective equipment to vulnerable communities and frontliners.

The conglomerate also built emergency quarantine facilities in collaboration with the Armed Forces of the Philippines. (READ: LIST: Aid from Philippine companies during coronavirus pandemic)

San Miguel’s net income stood at P39.7 billion in the first 9 months of 2019, 5% lower than in the same period in 2018. – Rappler.com