6th Apr 2020 11:31
(Alliance News) - MJ Gleeson PLC said Monday it has taken further action to cushion the impact of the Covid-19 pandemic, mainly in staffing concerns.
The housebuilder said it will furlough 456 employees, making up 76% of its workforce in-line with the UK government's Job Retention Scheme.
In addition, all members of its board are taking a reduction in salary and fees of 30%, while senior management will have their salary reduced by between 5% to 20%, weighed according to salary bands.
In late March, MJ Gleeson temporarily closed all its sites and cease construction activity in line with UK government guidance. Unable to provide guidance on year ending June 30 and cancelling 12 pence per share interim dividend scheduled to be paid on April 3.
Shares in MJ Gleeson were up 2.3% at 579.09 pence on Monday in London.
By Dayo Laniyan; [email protected]
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