- Waste management company Biffa said it had started to furlough staff and announced that its board members as well as the executive team had taken pay cuts as the company tightened its belt to cope with the Covid-19 pandemic.

The measures, which included furloughing staff under the government's Coronavirus Job Retention Scheme, board members and the executive team taking a 20% pay cut and the leadership taking a 10% reduction in salary, would enable the group to 'shoulder this downturn in the near term and position it to progress its growth strategy over the medium term,' the company said.

The company also suspended all pay increases until further notice and its annual bonus scheme for 2021.

At 8:53am: [LON:BIFF] Biffa PLC share price was +1.5p at 171.5p

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