Ayala Group, SM donate 2.5B pesos for people affected by COVID-19 outbreak
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The Ayala Group and SM, two of the biggest conglomerates in the Philippines, have pledged a combined 2.5 billion pesos for those affected by the coronavirus (COVID-19) situation in the country.
The Ayala Group, through Jaime Augusto Zobel de Ayala’s official Facebook page, announced that a 2.4 billion peso package shall be divided into wages, bonuses, loans, and more to help employees.
“To our employees, partners and friends,
In these most trying times, those significantly affected by the COVID-19 situation are the thousands of workers that will be affected by the enhanced community quarantine because their places of work have been closed. These include retail workers, construction workers, service providers, security agencies and employees of many similar businesses who are largely on a no-work-no-pay type of employment.”
Included in the package is P600 million for salary continuance of displaced workers from malls, construction sites, and retail spaces.
Their telecommunications arm, Globe Telecoms has pledged P270 million for its staff.
Ayala Malls will likewise adopt a rent-free period for tenants of malls that are not operating due to Metro Manila’s community quarantine.
SM, meanwhile, will donate P100 million to both the Philippine General Hospital (PGH) and the Research Institute for Tropical Management (RITM).
The donation will be used for personal protective equipment (masks, gowns, visors, etc.) as well as medical supplies urgently needed to help frontline workers and other medical personnel combat the illness.
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