EDITORIAL: Saving jobs for life after lockdown
Cutting pay across the board instead of retrenching workers could be a solution
07 April 2020 - 05:05
As the government-ordered lockdown to suppress the rapidly spreading Covid-19 pandemic continues, more companies are resorting to cutting employee pay as an alternative to large-scale retrenchments.
It will be agonising for workers in a country with dangerously high levels of household debt relative to disposable income — which stood at about 70%, according to the Reserve Bank data — and in which pay increases were at record lows even before the crisis...
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