StockMarketWire.com - Energy saving group Sabien Technology said it had furloughed all non-essential staff in response to the coronavirus crisis.

'Increasingly, customers do not want third party contractors to visit their sites and Sabien is not prepared to put its installation engineers at risk by asking them to make non-essential visits away from their homes,' the company said.

More than 85% of the company's workforce had agreed to be furloughed with effect from 30 March and would access the UK government's coronavirus job retention scheme.

'The expected slowdown in sales will hopefully be offset by a corresponding reduction in the salary bill leaving the company in a strong position for a resurgence in business once normal operations resume,' executive chairman Richard Parris said.

'The board continues to have confidence in the future of Sabien's M2G product line and we believe our actions will protect shareholder value through difficult market conditions.'




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