The mistake is not providing long-term guarantees to households - Zeme un valsts

The mistake is not providing long-term guarantees to households

If we are talking specifically about the mood, it is twofold. On the one hand, it is relatively good – despite the great uncertainty and the crisis in the spring, the year concluded well. In the spring, pay cuts were implemented at the company through a collective agreement, but we performed well during the second half of the year, so by the end of the year, previous, pre-crisis salaries were restored.

Only for a few people from the entire team, those with the highest salaries, did the year end with a drop in pay compared to 2019 – it primarily affected managers. Our stance was that a crisis affects people with low incomes more, so they cannot have the same large salary cuts as managers. We acted similarly in the previous crisis of 2008.

The mistake is not providing long-term guarantees to households

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