D&L INDUSTRIES, Inc. is allocating P100 million to give out as financial assistance to employees and donations to institutions combating the spread of the coronavirus disease 2019 (COVID-19).
In a statement over the weekend, the listed manufacturer said the new pledge comes on top of its previously announced commitment to pay employees their full salaries for the period of the Luzon-wide enhanced community quarantine.
“Despite the various challenges due to the (quarantine), our plants remain operational… This is only possible as our people remain committed in fulfilling their various roles in the organization. Likewise, we are equally committed in taking care of them and providing adequate assistance when they are most vulnerable,” D&L President and Chief Executive Officer Alvin D. Lao was quoted as saying.
The company is also giving added compensation to rank and file employees that are part of its skeletal workforce. A 30% increase in regular rate, 60% increase in overtime rate, meal stubs, shelter and household disinfecting chemicals will be given to them.
Externally, D&L’s Lao Foundation, Inc. donated P15,000 financial assistance to 99 families where the company’s operations are based. It also allocated P5 million to give to institutions in need, on top of personal protective equipment and sanitation chemicals distributed to various hospitals.
“[W]e will remain steadfast in our genuine commitment to keep our people safe and to fulfill our crucial role in the Philippine manufacturing sector,” Mr. Lao said.
D&L is a manufacturer of customized food ingredients and chemicals used in alcohol, disinfectant sprays and sanitizers. In 2019, the company posted P2.62 billion in net earnings, 18% lower from a year ago due to reduced sales. — Denise A. Valdez