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March 26, 2020

JCB bosses forgo pay

Filed under: Latest News — EHN Team @ 2:07 pm

As the Covid-19 crisis deepens and hire shops mothball operations or are offering restricted services, JCB has decided on further mitigations in order to stay afloat.

How different things were earlier this month, when we reported that JCB’s UK factories had ended short time working on the back of improving conditions in China. Even then CEO Graeme Macdonald had sounded a note of caution, highlighting emerging threats in other parts of the supply chain.

Those have come to pass rather quicker than some might have hoped, and we daresay they don’t need to be reiterated here. In response, JCB has today announced that its senior directors will go without pay until further notice. In addition, its 6500 workers are now required to stop working until the end of April. They will receive 80% of their pay, however, and JCB will look to the government’s job retention scheme for support in the meantime.

More news as it develops.

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