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Unilever to shield workers from financial impact of coronavirus

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03/24/2020 | 08:10am EDT
FILE PHOTO:  Unilever headquarters in Rotterdam

Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.

Unilever said its pay protection plan would be applicable for employees, contractors and others who are managed by the company or who work on its sites on a full or part-time basis.

The maker of Dove soaps and Knorr soup also unveiled a 500 million euro (462.7 million pounds) relief programme to help its "most vulnerable" small- and medium-sized suppliers as well as provide credit to select small-scale retailers.

A number of companies are rolling out relief measures for their employees suffering from immense financial strain due to the coronavirus outbreak.

J.M. Smucker said it would pay its 5,700 manufacturing and distribution workers a one-time bonus of $1,500, while Mondelez said it would increase hourly wages by $2 and pay a $125 weekly bonus for its sales representatives to help meet the surge in demand for packaged foods.

The Anglo-Dutch company is also using some of its current manufacturing lines to produce sanitiser for use in hospitals, schools and other institutional settings, the company said, following similar moves by consumer product companies Beiersdorf and French luxury goods maker LVMH.PA.

Unilever said on Tuesday it was also donating soap, sanitiser, bleach and food worth 100 million euros to tackle the coronavirus pandemic.

(Reporting by Siddharth Cavale in Bengaluru, Editing by Sherry Jacob-Phillips and Anil D'Silva)

Stocks treated in this article : Beiersdorf Aktiengesellschaft, Unilever PLC
Stocks mentioned in the article
ChangeLast1st jan.
BEIERSDORF AKTIENGESELLSCHAFT 2.89% 98.96 Delayed Quote.-7.21%
NEXT 2.33% 5528 Delayed Quote.-21.23%
THE JM SMUCKER COMPANY -0.50% 114.59 Delayed Quote.10.59%
UNILEVER PLC 2.11% 4399 Delayed Quote.1.11%
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