EOH to cut pay of executives and staff to avoid job losses

DURBAN – Information technology group EOH is planning to slash its executives’ pay by 25percent in the next two months to cushion the impact of the coronavirus outbreak on its operations and to avoid potential job losses.

EOH also proposed a 20percent salary reduction across the board with the exception of those earning less than about R250000 a year.

Chief executive Stephen van Coller said the board felt it necessary to take proactive steps to ensure EOH was prudent in these times of uncertainty.

“We want to ensure that we are protecting as many jobs as possible in the company as the country’s economy is not in a position to shed more jobs.”

Van Coller said the measures would be implemented on pay day this month.

Source: iol.co.za