Pestana Hotel Group Pays 5.9% More Than The Madeiran Minimum Salary
The Pestana Hotel Group has recently raised its minimum salary to 900 euros (gross) for all employees. That is 50 euros or 5.9% more than the Madeiran minimum wage of 850 euros. On top of this, the company pays 9.6 euros meal allowance per working day. The meal allowance is considered a social benefit, most companies pay it to their employees. A meal allowance of up to 9.6 euros is also tax-free.
The Pestana Minimum Remuneration includes €900 in recurring remuneration and the value of a meal allowance corresponding to €9.6 per working day, in a total that, depending on the calendar days, will even exceed €1,100
José Theotónio, CEO of Pestana Hotel Group
How Much Should Major Corporations Pay?
The Pestana Hotel Group's recent decision to pay employees an additional 50 euros above the mandated rate has earned them commendation and positive feedback on social media. However, it's important to recognize that 900 euros gross falls short of providing a sustainable living wage in Madeira. Considering rent and further expenses, this amount barely allows employees to live independently on the island.
2022 Brings Pestana 100 Million Euros In Profit
Considering Pestana's substantial financial success, evidenced by a net profit of 100 million euros and a revenue of more than 450 million euros in 2022, there's a clear imperative for the company to uphold its social responsibility. Indeed, offering a wage of 900 euros represents merely a gesture of goodwill. To settle for anything less would risk their reputation and invite justified criticism. Who, if not major players should set an example and stand up for improved working conditions?
Source: JM-Madeira
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