A number of the UK’s largest housebuilders are furloughing staff as the housing market grinds to a halt in the wake of the coronavirus pandemic.
Barratt, Crest Nicholson, Countryside, MJ Gleeson, Redrow and Taylor Wimpey have all said they will furlough employees due to the effects of the virus forcing them to close a number of operations.
Barratt said it is furloughing “a large proportion” of its employees, due to temporary closures of sales centres, construction sites and offices. The housebuilder is topping up employee salaries, so everyone receives 100% of their income.
Crest Nicholson has furloughed 629 employees across the business. It said the decision was “not taken lightly, but was necessary in ensuring we safeguard the future of our business”. All staff will continue to receive 100% of their salaries.
Countryside said all workers that have been furloughed are being paid 100% of their salary, and confirmed there have been no redundancies.
Redrow has furloughed 80% of its workforce and MJ Gleeson has furloughed 456 employees, representing 76% of the company. Taylor Wimpey is also in the process of communicating furloughs to staff and will also pay 100% to all staff.
Persimmon said it has not applied for the government furlough schemes for any employees and said all staff currently remain on full pay, whether they are working their usual pattern or not.
Two weeks ago the executive directors took a 20% reduction in their base salaries and decided to forgo cash bonuses payable for 2020. Non-executive directors will also reduce their fees by 20% from 1 April.
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