Fletcher asks staff to take up to a 70% wage cut

Thu, 02 Apr 2020

Fletcher Building is asking staff in New Zealand who aren't working through the nation's shutdown to take a progressive paycut over the next 12 weeks starting at 20 percent for the first four weeks and reaching 70 percent for the final three weeks. Senior executives who will work through the lockdown have agreed to a 15 percent pay cut and all other executives will be treated the same as the other Fletcher employees not working. In a message to staff, chief executive Ross Taylor said the company was "simply not able" to continue to pay it...

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