Persimmon bosses take 20% pay cut, forgo bonuses

York house building giant Persimmon plc said on Thursday its executive directors “have elected to take a voluntary, temporary 20% reduction in base salary effective from 1 April 2020, until such time as the group is able to recommence work on site.”

Persimmon added that the executive directors have also decided to forgo any cash bonuses which may have been payable for 2020. 

The firm’s non-executive directors will also reduce their fees by 20% commencing April 1 for the period until site work recommences.

On March 25 Persimmon announced a number of measures in response to the COVID-19 pandemic including the temporary closure of all sales outlets and an orderly shutdown of its construction sites.