Persimmon says directors to take temporary pay cut amid virus outbreak

The York-based firm said its executive directors have also voluntarily decided to give up any cash bonuses which may have been payable for 2020.

The group said its directors are taking the voluntary pay cut in recognition of the "current extraordinary circumstances".

On Wednesday rival housebuilder Taylor Wimpey cancelled a planned pay rise and bonus payments for its management this year, with directors also taking a 30 per cent cut during the coronavirus lockdown.

Last week Persimmon announced a number of measures in response to the Covid-19 pandemic, to ensure the safety and wellbeing of its colleagues, customers and business partners.

This included the temporary closure of all sales outlets and an orderly shutdown of its construction sites. Only essential work is now taking place in response to the coronavirus pandemic.

Persimmon’s chief executive Dave Jenkinson said: “We will listen carefully to the Government’s future advice as the situation develops and will make further adjustments where necessary."

Persimmon has joined other housebuilders, such as Bellway, Taylor Wimpey and Barratt Developments, in deciding to shut construction sites, as they take positive action to help protect workers from coronavirus.

Persimmon said it will continue with essential work only, making partly-built homes safe, where customers could be left in a vulnerable position. The firm will continue to offer telephone and online customer support.

Bellway chief executive Jason Honeyman said the decision to shut its construction sites came as a result of fears for worker safety.

“We weren’t convinced we could police the social distancing or keep workers two metres apart at sites,” he said.

“There’s always some people who ignore it.”

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