Car retailer furloughs thousands of workers as management takes pay cut
Pendragon has furloughed thousands of its staff and announced senior pay cuts to protect itself against the Covid-19 crisis.
The car retail giant, which owns Stratstone, Evans Halshaw, Car Store, Pinewood, Quickco and Pendragon Vehicle Management, has taken the action after a “sudden decrease in business activities” and has furloughed 80% of its staff for at least three weeks.
The Nottingham firm has also announced a 20% pay cut for board member and senior leadership staff, a 15% cut for upper management and 10% decrease in pay for other corporate and field support personel.
Pendragon says it will be donation the 20% reduction in chief executive Bill Berman’s salary to the NHS. Berman was named chief executive of Pendragon in February of this year. At his direction the company is donating 20,000 disposable seat covers to local health trusts and offering 25% off to all first responders and frontline workers for any maintenance or warranty work needed on their vehicles through the end of April at all operating Pendragon service center locations.
Berman said: “My priority has been and will continue to be, the safety and wellbeing of our associates, customers and partners in the communities we serve throughout the United Kingdom.
“Supporting our first responders and frontline workers must be our priority as residents and citizens of this great country. Each day the men and women of the NHS put themselves in harm’s way in order to save the lives of people they have never met. Every little bit we can do to help the NHS will make a difference.”
