The Ayala Group has adopted a P2.4 billion emergency response package for its workers who were displaced as it closed all its malls across Luzon due to the COVID-19 outbreak.
In a joint statement, Ayala Corp. chief executive officer Jaime Augusto Zobel de Ayala and Ayala president Fernando Zobel de Ayala said the package will cover “wages, bonuses, leave conversions and loan deferments.”
These include P600 million in salary continuance for displaced workers from construction sites, shuttered malls and retail spaces of Makati Development Corporation and the Ayala Malls group; P270 million for Globe Telecoms' retail store support staff and vendor partners; and P130 million in personnel-related financial support for all other Ayala companies.
Ayala malls will likewise be providing a rent-free period for malls that are not allowed to operate during the community quarantine. The total package will be worth around P1.4 billion in rent condonation to provide the merchants of these malls financial relief so they can in turn provide much-needed financial support for their employees.