Sierra issues inflation cheque to employees

The owner of the Colombo Shopping Centre in Lisbon has issued anti-inflation cheques of €500 to 710 staff.

According to Eco Online news Sierra, which owns both Colombo and NorteShopping, has issued the cash to help 79% of the staff who work for the company which currently has a “transformation plan” underway.
From out of 50 projects in the transformation plan, around 50% have already been concluded.
“Faced with the inflationary times in which we are living, Sonae Sierra will help those staff who are most exposed to the general increase in the cost of living. The company has decided to award an additional sum of €500 in December to the 79% of its staff, a total of 710 people in the various geographies in which it operates”, says Drummond Borges, Chief Transformation Officer of Sierra, the real estate branch of the Sonae Group”.
“Bearing in mind the different countries in which we operate, the payment will be made in the most suitable way for each region”. Sonae Sierra operates in Portugal, Spain, Germany, Italy, Romania, Greece and Morocco.
During the Christmas period Sierra also provided “all of its staff two and a half days extra off in additional holidays”.
With inflation at levels not seen for 30 years having a strong impact on staff incomes, which is likely to remain into 2023, the Chief Transformation Officer of Sierra admits that the company has been “quite concerned” and has been trying to “also find flexible models to minimise the impact”.