Saturday, May 30, 2020

Ibstock leadership team takes 20% salary reduction

Following the suspension of production at its manufacturing facilities at the end of March, Ibstock’s entire Board and Executive Leadership Team have taken a voluntary 20% salary reduction for a three-month period starting 1 April 2020 in response to the COVID-19 pandemic.

In an update the Leicestershire-based firm noted that “the orderly shutdown of [its] manufacturing sites across the UK is now complete,” and “a skeleton staff is in place at the sites during the shutdown period to ensure that safety and security is maintained.”

Ibstock says it is “actively progressing” its participation in the job retention scheme as part of plans to support colleagues through the crisis period.

The firm expects to furlough a significant proportion of colleagues during the production shut down period and is considering participation in other Government initiatives.

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