Shaftesbury bosses take 20% pay cut and give savings to local charities to boost Covid-19 support

Brian Bickell of Shaftesbury

The board of West End of London landlord Shaftesbury has agreed waivers of 20% of both executive director base salaries and pension contributions and non-executive director fees in order to preserve cash during the Covid-19 outbreak.

The move will be effective for a three-month period, while all employees below board level continue to receive their full salaries and benefits. The group also confirmed no staff had been furloughed.

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