Kier announced a decision on salary cuts amid the coronavirus crisis. The employees with a low pay will have a cut by 7.5% and up to 20% cut for senior managers, company said. These cuts will take effect starting from Wednesday this week, and carry until the end of June. The salary cuts may be prolonging further based on the crisis that the company witnesses, it said.
The number of employees that are covered under the impact is figured at around 6,500. The board announcement came last week while its top executives had agreed a 20% base salary cut. Andrew Davies, who’s the Chief executive warned regarding the salary cuts on last Friday after a letter got circulated. The letter states that certain employees may be asked to take greater reductions in their base salaries and a reduction in working hours, depending on the level of work that remains available.
Andrew Davies who’s the Chief executive today morning said that the majority of Kier’s core construction sites remained open. However Kier Living jobs are closed, said the board. Adding to it, Davies announced that the plans to sell Kier Living and property assets are put on hold.