Nottingham car retail giant Pendragon has furloughed 80% of its staff for a 21 day period and revealed voluntary salary reductions after a sudden decrease in business activities in the wake of the novel Coronavirus.
Board members and senior leaders have had salaries reduced by up to 20 percent, while upper management have seen a pay cut of up to 15 percent and other corporate and field support personnel a reduction of up to 10 percent.
To support frontline medical workers, the company says it will be donating the 20 percent reduction in the salary of Chief Executive Officer Bill Berman to the NHS at his request.
The company says COVID-19 is impacting all Pendragon owned companies – Stratstone, Evans Halshaw, Car Store, Pinewood, Quickco and Pendragon Vehicle Management – with many operations closed or severely reduced in each of these businesses.
As of 24 March, the Company closed all of its dealership sales showrooms in accordance with Government regulation. The Company is currently operating with a reduced workforce at select dealerships to allow for the maintenance and repair of emergency service vehicles and those of frontline workers. The required closure period will be re-evaluated on 13 April.
Berman said: “My priority has been and will continue to be, the safety and wellbeing of our associates, customers and partners in the communities we serve throughout the United Kingdom.
“Supporting our first responders and frontline workers must be our priority as residents and citizens of this great country. Each day the men and women of the NHS put themselves in harm’s way in order to save the lives of people they have never met. Every little bit we can do to help the NHS will make a difference.”
Berman was named Chief Executive Officer of Pendragon in February of this year. At his direction the company is donating 20,000 disposable seat covers to local health trusts and offering 25 percent off to all first responders and frontline workers for any maintenance or warranty work needed on their vehicles through the end of April at all operating Pendragon service center locations.