22nd Apr 2020 08:21
(Alliance News) - Speciality chemicals firm Johnson Matthey PLC on Wednesday said it plans to not trim its workforce or take any UK government financial help amid the Covid-19 pandemic.
The FTSE 100 firm, which added it has "enhanced our existing health and wellbeing support", said it will not make any staff member redundant until the end of June 2020.
"We will not take any Covid-19 support from the UK government for furloughed staff during April, May and June 2020," Johnson Matthey said.
"Chair Patrick Thomas, Chief Executive Robert MacLeod Chief Financial Officer Anna Manz and our non-executive directors have chosen to make a donation equal to 20% of their salaries and fees for at least the first quarter."
The company also has donated personal protective equipment to healthcare organisations.
Johnson Matthey added that it is adopting measures to "maintain a strong financial position and tightly manage our cash flow and costs".
It said it will give more details on these actions when it released its annual results on May 28.
MacLeod said: "Everything we do at Johnson Matthey is aligned to using our science to make a positive contribution to a cleaner, healthier world, today and for future generations. This is particularly relevant in the context of Covid-19 and I am pleased we can support our people, customers, suppliers, shareholders and communities at the heart of our organisation.
"I am particularly grateful to all our colleagues who have shown dedication to our business and our customers in the face of Covid-19, be it our frontline employees who continue to come to work at our sites around the world, or staff who have adjusted so resourcefully to the challenges of working at home."
Shares in the company climbed 0.2% to 1,895.00 pence each shortly after market open in London on Wednesday.
By Eric Cunha; [email protected]
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