Grosvenor Group has furloughed staff while directors have volunteered to have their salaries reduced by 20% as it adapts to the coronavirus pandemic.
All furloughed staff are being paid 80% of their salary with the group, which includes Grosvenor Leasing, Interactive Fleet Management and retail operations, topping up the difference where staff earn more than the Government’s £2,500 cap.
The company says this means all directors and furloughed staff are being treated equally, and those staff continuing to work full-time are retaining their normal pay.
Nicola Johnson, chairman of Grosvenor Group, said: “This is precisely what my father, Brian Johnson, who formed the business in 1981 and sadly passed away last month, would have done.
“All directors and other essential members of our account management, maintenance, rental, admin and customer services teams are continuing to work so that we can support our customers and their drivers through this challenging period.
“We have decided not to furlough the directors nor any staff unnecessarily, partly because we feel we have the financial strength to work through this period but also because we would not wish to be seen as taking advantage of any Government support we do not need.
“However, we genuinely feel for those we have had to furlough. It isn’t a decision that we, or any business, has taken lightly and the least we can do is reduce our director salaries to 80% as well.”
Shaun Barritt, group CEO, added: “I’d like to personally thank each and every one on of our team for their dedication, commitment and understanding.”