Novartis Singapore today announced a series of community efforts against Covid-19, including the full return of the Jobs Support Scheme (JSS) payout – a scheme implemented by the Singapore government to help enterprises retain their local employees during this period of economic uncertainty.
The payout returned amounted to SGD 3.7 million for April 2020 and the company has also declined to receive future payouts in May, July and October 2020.
This decision follows Novartis global commitment to no retrenchments due to the Covid-19 pandemic. During the first quarter, Covid-19 did not have a material impact on Novartis’ global underlying business, financial condition, cash collections or liquidity.
Novartis’ financially strong position allows the support of its associates without government relief through this pandemic.
“For Novartis, it was clear that returning the JSS payout is the right thing to do. This is a reflection of our integrity, our shared community spirit and ability to support employment during this period,” said Country President of Novartis Singapore, Kevin Zou.
“During these challenging times, it is critical for us to stand together with the community. We hope by returning the full JSS payout, these resources will be re-directed to help more local businesses and communities in need,” he said.