Nestle Guarantees Employee Pay for 12 Weeks In Case of Stoppages

(Bloomberg) -- Nestle SA, the world’s largest food company, said it’s willing to pay factory and distribution workers for at least 12 weeks if their workplaces are closed due to the Covid-19 pandemic.

“Nestle feels a special responsibility at this time,” Chief Executive Officer Mark Schneider said in the text of a speech to shareholders Thursday at its annual general meeting, held online for the first time ever to avoid risk of contagion of the coronavirus.

Nestle is struggling to keep up with high demand for essential food and drink items as it faces obstacles that slow down production, Schneider said earlier this month. Nestle, which reports first-quarter sales tomorrow, stands out as one of the few around the world to maintain its dividend this year.

“We look forward to seeing you in person in 2021,” Schneider said.

©2020 Bloomberg L.P.

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