Senior staff at Ina Paarman Foods take pay cuts of up to 50% to avoid job cuts

Ina Paarman Foods, the company that produces spices and food, has announced that its senior management will be taking pay cuts for the next three months.

“We have heeded the call and followed the example of our president in these trying times and are proud to announce that our senior managers will be taking a pay cut of between 20% and 50% for the next three months,” the company said on its Twitter page.

The company said the pay cuts would ensure that "no-one is retrenched during this most difficult economic time”.

“Furthermore, there will be no wage sacrifice for our weekly paid staff - but overtime will be strictly controlled,” the company said.

Two weeks ago President Cyril Ramaphosa announced that his executives and provincial premiers would take a 33% pay cut for the next three months, as the country struggled with the coronavirus crisis.

The money, he said, would be donated to the Covid-19 Solidarity Fund.

The pay cut gesture was in line with all of those who have donated private funds to the Solidarity Fund, which has so far raised more than R2bn, he said.