Philip Morris Pledges Job Security, Full Pay for Its Employees
Tobacco titan Philip Morris International (NYSE: PM) said today it won't lay off any of its workforce during the coronavirus pandemic. Additionally, the company said it will continue providing full pay for all of its employees, regardless of whether they are currently able to work or have been idled by facility shutdowns.
While few companies have carried out wholesale firings of their workforce, many have been compelled to furlough part or all of their employees without pay to save money during the COVID-19 shutdown. Philip Morris seems determined to buck the trend, however, at the same time it continues to offer solid dividends to investors.
The Operations Center of Philip Morris in Switzerland. Image source: Philip Morris
Source Fool.com
