As the pandemic continues and construction work declines, BAM has made the decision to furlough more than 400 employees and cut management salaries by 20%
BAM’s work to provide significant emergency support to the UK’s NHS, emergency services and local authorities as we all work together to defeat COVID-19.
Construction work continues on building the new NHS Nightingale hospital in Harrogate, supporting other such schemes at multiple locations around the country and rapidly completing coronavirus wards at several existing hospitals.
BAM is working to avoid costs, reduce spending and protect cash. The Board and senior management have decided to reduce their salaries by 20% from the 1st of April and the Board has also chosen to forfeit its annual pay review for 2020.
This reduction in spending, focus on cash and adoption of the Job Protection Scheme are designed to help through this challenging time. It is likely that further steps will have to be taken.
Many BAM sites closed
Those that remain open are operating in line with industry and government social distancing guidelines by reducing operating levels, enhancing welfare facilities and changing work patterns to help avoid public transport.
The business has mobilised quickly to enable people to work from home where possible, reduce the numbers of people working on construction sites and FM locations, and embed the new safety guidelines.
We are all in this together
James Wimpenny, chief executive, said: “We are working hard to protect lives and livelihoods.
“I thank everyone at BAM for everything they are doing to keep themselves and their families safe, and for responding so well to rapidly changing circumstances. I also want to thank our clients and supply chain for being so supportive.”
Priorities are to protect the lives and livelihoods that will be so important for when the pandemic subsides and the country starts getting back to normal.