StockMarketWire.com - Daily Mirror and Daily Express newspaper publisher Reach scrapped its final dividend and said its employees would have to take a 10% pay cut as it weathers the Covid-19 crisis.

Reach said it had furloughed about 20% of its employees under the UK government's Coronavirus Job Protection Scheme.

The 10% pay cut would be made while ensuring no employee fell below the national living wage.

Senior managers had taken a 20% pay cut.

'Any future decisions regarding the interim dividend for the financial year ending 2020 will be taken at the appropriate time in the light of the duration and impact of the current crisis,' Reach said.






At 9:06am: [LON:RCH] Reach Plc share price was +2.9p at 92.9p



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