StockMarketWire.com - Homebuilder MJ Gleeson said it would furlough the bulk of its workforce as it introduced cost-cutting measures across the company, with senior management and board members agreeing to pay cuts.

A total of 456 employees, representing 76% of the workforce, would be furloughed, board members would take a reduction in salary and fees of 30% and senior management were taking reductions in salary of between 5% and 20%, the company said as it stepped up cost-cutting measures.

The company said it would review the position at the end of May.



At 10:14am: [LON:GLE] Gleeson M J Group PLC share price was +15p at 581p



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