Urban regeneration specialist, MJ Gleeson has furloughed 76% of its workforce in a bid to lessen the coronavirus impact
MJ Gleeson has furloughed a total of 456 employees in line with the government’s Job Retention Scheme.
The company will also top-up the salaries of those affected up to a minimum of 80% and a maximum of 95% of salary.
All members of the board are taking a reduction in salary/fees of 30%.
Senior management will take salary reductions of between 5% and 20%, weighted according to salary bands.
Gleeson said it would review all measures at the end of May.
In the statement, the company said: “Together with the actions already taken including cancellation of the interim dividend, pausing all build activity and land acquisition, cutting discretionary costs and implementing a recruitment freeze, the company has now implemented a comprehensive range of actions to ensure that it is well placed to restart operationally once conditions allow.
“A key priority is to reopen sites and sales offices once it is appropriate and safe to do so and our focus now turns to putting in place a programme to ensure as efficient a re-start as possible immediately the resumption of trading is permitted.
“We are keen to work with central government and local authorities to agree what provisions might be put in place to enable the safe resumption of building much-needed quality affordable homes as soon as it is practicable to do so.”
Supporting Key Workers
Gleeson builds and sells homes to first time buyers on average and lower incomes across the Midlands and North of England, areas where there are already acute supply shortages. The current situation is further exacerbating this position.
Two-thirds of the homes it sells are to people in what are now designated Key Worker roles. In recognition of their efforts in keeping us all safe, fed and healthy the board has decided that, when the company is able to recommence site build activities, it will prioritise house sales to Key Workers.