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British Land board of directors takes 20% pay cut
16th Apr 2020 11:20
(Sharecast News) - Property development and investment company British Land said on Thursday that its board of directors will waive 20% of their base salaries or fees for three months amid the coronavirus pandemic.
The money saved will be allocated to the group's community investment fund, which has been providing funding for charities and community partnerships for more than a decade.
"Our communities team has worked with our network of local partners to identify how we can most effectively support them now and in the coming months, refocusing many existing community programmes to respond to the crisis," it said.
The 20% salary reduction came into effect on 1 April.
The money saved will be allocated to the group's community investment fund, which has been providing funding for charities and community partnerships for more than a decade.
"Our communities team has worked with our network of local partners to identify how we can most effectively support them now and in the coming months, refocusing many existing community programmes to respond to the crisis," it said.
The 20% salary reduction came into effect on 1 April.