(Reuters) - UK housebuilder Taylor Wimpey (L:TW) said on Wednesday it was cancelling a planned pay rise and bonus payments for management this year, with directors also taking a 30% cut in pay for the duration of the coronavirus lockdown.
The company last week cancelled its final and special dividends for 2020 and drew down 550 million pounds ($645.54 million) in credit facilities to shield its balance sheet against the blow of the coronavirus pandemic.