Top Puma execs will skip April paychecks
In an effort to navigate slumping sales resulting from the coronavirus outbreak, Puma has said its three top executives would not take their pay for April and senior managers (including general managers and directors) will see their April salaries cut by 25%.
The company’s other employees in Germany will work fewer hours until April 13, which includes office employees working 50% of their contract hours. As all Puma stores in the country are closed, “store employees are on 100% short time working, not working at all,” according to a statement.
“However, all will receive 100% of their previous net salary, which consists of short-time pay by the Bundesagentur für Arbeit and a voluntary contribution by Puma to top up the rest until April 13, 2020.”