Ayala allocates P2.4-B to combat COVID-19


The Ayala group of companies has allocated a budget of P2.4 billion as a response package to support its employees and partner employers amid the coronavirus pandemic.

The said budget will allow all employees, including retail workers, construction workers, service providers, security guards, and employees of similar businesses, to receive wages, according to a report.

At least P600 million is designated for the salaries of workers from construction sites, shuttered malls, and retail spaces of Makati Development Corporation and Ayala Malls.

In addition, Ayala Malls revoked rental fees worth around P1.4 billion.

“For its own employees, Ayala will continue to provide salary continuance and financial support where possible as most of these employees will be getting their mid-year bonuses normally paid in April starting today (March 17) through the end of March,” Jaime Augusto Zobel de Ayala and Fernando Zobel de Ayala was quoted.

Aside from financial assistance, Ayala has also paused employee loan payments, while introducing other assistance programs.

Through its subsidiary Ayala Healthcare Holdings, the conglomerate also donated over 10,000 N95 masks to public hospitals on March 16.