Stuff has shown it is once again leading the way as a media business, and has promised to pay back all its staff that took a voluntary pay cut over Covid-19.
In an email sent to staff, Sinead Boucher expresses her gratitude for all the employees who took a 15 percent pay cut for 12 weeks, which they then brought back to four weeks due to a more stable market than they anticipated.
“Now I am even more pleased to say we are in a position to pay back the money staff sacrificed during those weeks,” said the email.
“Thank you to the hundreds of you who made this personal sacrifice to help us all get through those days. It was a huge ask, and the contributions you made were very significant in getting us past the worst of the Covid-19 impact.
Personally, I was really moved that so many of you, across all levels and departments in the business, were willing to give up your pay, in a time of real uncertainty. This money was critical in enabling us to emerge from lockdown with everyone’s jobs intact and set us up for the recovery period.”
Stuff’s CFO Ramesh Vedachalam also expressed the importance of looking after staff at times of crisis.
“We sincerely believe in looking after our staff as our most important stakeholder. Their timely sacrifice was important at the most difficult of times and at the first opportunity of us being able to repay, we decided to return the money with gratitude.”