Foster + Partners has furloughed some of its employees and asked every staff member to take a 20 per cent pay cut as a result of the coronavirus outbreak
Staff who are unable to carry out their work at home have all been furloughed, which will see them paid 80 per cent of their salary up to £30,000 by the UK government.
Other Fosters staff, including those working in overseas offices, have asked been asked to take a 20 per cent pay cut for three months.
However, Fosters said all their employees would be paid a minimum of £25,000 or their full salary if less than this.
Managing director Matthew Streets said the measures were ‘the best way to help protect the practice’ during the ‘challenging and uncertain times caused by the outbreak of coronavirus’.
The company employed an average of 1,317 employees for the year ended 30 April 2019, spending a total of £121 million on staff costs.
The group turned over £258 million in the same year, making a pre-tax profit of £21 million. Its highest-paid director earned £2.6 million for the year.
Staff at the nation’s largest practice are far from alone in having to take a cut in pay during the Covid-19 crisis.
According to early findings from the AJ’s latest coronavirus survey (see graph right), 29 per cent of the nearly 400 architects and architectural assistants who responded said their pay had been reduced.