Chinese Retail Group Pledges No Cuts On Pay Or Staff

January 22, 2010 | Print | Email Email | Comments | Category: Labor

A Nanjing-based supermarket chain Suguo undertook to keep its undertaking of "no layoffs, no salary reduction" at the same time as it announced that its sales increased by 10% to CNY33 billion in 2009, despite the global economic crisis.

The company has maintained the rate of its network expansion opening 120 new outlets in 2009, increasing its total number of retail sites to 1,900.

According to Ma Jialiang, the chairman and general manager of Suguo, when facing an unfavorable market environment, enterprises should turn challenges into opportunities. He added that by sticking to the promise of "no layoffs, no salary reduction", Suguo had stimulated the enthusiasm of its 50,000 employees and promoted the rapid recovery of the company.

Ma also told local media that the company plans to add Jiangxi and Hubei into its retail network.

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