Biffa Plc starts furloughing staff under CJRS

Biffa Plc (LON: BIFF) has informed about Covid-19 related remuneration matters.

  • The company has stated that it has started the process of furloughing staff under the Coronavirus Job Retention Scheme (CJRS) of the Government, which will roll out over the coming weeks.
  • It further informed that with effect from 1 April 2020, the Board of Directors and the Group Executive Team members have offered to take a 20 per cent reduction in salary.
  • The group has suspended all the pay increases until further notice; also, the annual bonus scheme of the group in respect of FY21 has been suspended.
  • On 6th April 2020, at the time of writing, GMT 08:59 AM, BIFF shares were trading at GBX 171.00, up by 1.00 points or 0.59% against the previous day closing price.