Today's Labour News

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Pam GoldingFin24 reports that property giant Pam Golding Properties (PGP) will be instituting salary cuts and reduced working hours as the effect of the coronavirus lockdown takes its toll on the company.  

Pension fund contributions have also been suspended, and the company has applied for Unemployment Insurance Fund Disaster Relief.  The company has suffered a heavy blow as a result of the lockdown period because its agents have been unable to trade as usual.  Additionally, the Deeds Office is closed, which means no properties can be transferred.  In an email to staff on 2 April, chief executive Dr Andrew Golding said that while the company "fully endorsed" the measures instituted by government to contain the spread of the virus, there would be a "significantly detrimental" impact on the property industry in general and PGP in particular.  All new appointments have been frozen, new projects have been halted, rent payments have been negotiated with landlords, and "many other measures" have been put in place.  But, employees earning less than R10,000 per month would continue to earn their current salaries.  The measures will be in place for at least April and May.

  • Read the full original of the report in the above regard by Marelise van der Merwe at Fin24
  • Read too, Deeds office closure hits estate agents, on page 5 of Business Times of 5 April 2020

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