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Countryside Properties execs take 20% pay cut amid Covid-19
20th Apr 2020 07:35
(Sharecast News) - Countryside Properties said on Monday that its executive committee and board of directors have agreed to a voluntary 20% pay cut for at least three months due to the Covid-19 outbreak.
The company, which announced in late March that it was withdrawing full-year guidance and suspending dividend payments due to the coronavirus outbreak, said the cut applies to base salaries and fees from 1 April to at least 1 June.
The money saved will be put towards a ?1m fund being established to support "the most vulnerable people in our communities". These funds will help support local charities and groups, food banks and others providing essential local services in locations where Countryside operates across the country, the company said.
Chief executive Iain McPherson said: "I am proud of the response of our colleagues and partners to this unprecedented crisis. With the support of a team of volunteers from within Countryside, we hope that these funds will help support the most vulnerable people in our communities at this current time of need."
The company, which announced in late March that it was withdrawing full-year guidance and suspending dividend payments due to the coronavirus outbreak, said the cut applies to base salaries and fees from 1 April to at least 1 June.
The money saved will be put towards a ?1m fund being established to support "the most vulnerable people in our communities". These funds will help support local charities and groups, food banks and others providing essential local services in locations where Countryside operates across the country, the company said.
Chief executive Iain McPherson said: "I am proud of the response of our colleagues and partners to this unprecedented crisis. With the support of a team of volunteers from within Countryside, we hope that these funds will help support the most vulnerable people in our communities at this current time of need."