Streaming issues? Report here
Aubrey Masango 702 Gradient Aubrey Masango 702 Gradient
The Aubrey Masango Show
20:00 - 00:00
volume_up
volume_mute

The Aubrey Masango Show
20:00 - 00:00

Home
arrow_forward
Business

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.


This article first appeared on CapeTalk : 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

More from Business

vertical-logopng

University of Pretoria launches free National Support Portal for SMMEs

2 June 2020 7:45 PM

The University of Pretoria's Centre for Entrepreneurship has launched a free National Support Portal for SMMEs.

Share this:
Read More arrow_forward

Sorry we closed small business 123rfbusiness 123rf

What is the cash register till showing for small enterprises?

2 June 2020 7:18 PM

The Yoco Small Business Recovery Monitor is a live, publicly available, small business transaction data resource.

Share this:
Read More arrow_forward

sweepsouth-articleheader-700x300jpg

Are job opportunities picking up for domestic workers again?

2 June 2020 7:08 PM

Domestic workers and gardeners are allowed back at work this week, as lockdown restrictions relax under Level 3.

Share this:
Read More arrow_forward

eskom-logojfif

Can we see from electricity usage if the economy is kicking off again?

2 June 2020 6:39 PM

Level 3 of lockdown started this week and business is picking up.

Share this:
Read More arrow_forward

Lockdown levels South Africa Covid-19 coronavirus 123rf

Hard decisions - a CEO talks about navigating the turbulence of Covid-19

1 June 2020 8:31 PM

National and business leaders have had to make some difficult decisions and will be expected to make many more as the crisis continues.

Share this:
Read More arrow_forward

Cash money rands

Purchasing Managers' Index remains in depressed territory

1 June 2020 7:37 PM

The Purchasing Managers' Index remains dismal, stuck, depressed - suggesting subdued activity.

Share this:
Read More arrow_forward

car motoring 123rf

Vehicles sales fail to kick-start into motion

1 June 2020 6:59 PM

As expected, the total lockdown that was in force resulted in almost zero vehicle sales.

Share this:
Read More arrow_forward

covid-19 coronavirus economy 123rfbusiness 123rflifestyle 123rf recession

What are the economic policy directions SA can take from here?

1 June 2020 6:48 PM

Covid-19 and the lockdown is a highly complex situation that will require new thinking that evolves over time.

Share this:
Read More arrow_forward

150130akijhb3.jpg

[LISTEN] Joburg media company offering free advertising to small businesses

1 June 2020 5:14 PM

JB Media and Yooh Media have taken up the task of helping small businesses with advertising on their digital billboards.

Share this:
Read More arrow_forward

fikile-mbalula-briefing-30-maypng

Curfew on public transport to be lifted, domestic air travel phased in

30 May 2020 4:44 PM

Transport Minister Fikile Mbalula outlined the relaxation of transport regulations under Level 3 of the national lockdown during a media briefing on Saturday.

Share this:
Read More arrow_forward