Coca-Cola Israel (The Central Bottling Co. Ltd.) has announced that it has put 600 employees on unpaid leave. The move follows the near complete collapse of sales from the country's institutional sector (restaurants, cafes, bars, wedding halls, hotels, factory and office canteens etc.) following the lockdown by the Ministry of Health.
The company said that it is also cutting management salaries by 10%, and head office employees' salaries by 5%-7.5% for those earning above NIS 15,000 per month.
Despite the major hit that the company has taken in the institutional sector, sales in the retail sector grew NIS 42 million (21%) in March compared with March 2019, to NIS 243 million.
The company said that it would be giving a NIS 3,000 grant to all employees put on unpaid leave.
Published by Globes, Israel business news - www.globes-online.com - on April 23, 2020
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