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The publisher of the Daily Mirror, Reach, is putting a fifth of its staff on furlough as it adjusts to the coronavirus crisis.
That means the government will cover 80% of their salaries. All employees are taking 10% pay cuts as well.
NEW: The publisher of the Mirror, Express and Star newspapers is to furlough a fifth of staff, plus all employees to take a 10% pay cut. Reach also scraps dividend, suspends bonuses and top bosses to take 20% pay cut.
WH Smith is preparing to raise new equity to get it through the coronavirus crisis.
These financing arrangements, coupled with a broad range of mitigating actions to manage the cost base and cash-flow, will provide sufficient liquidity to deal with this most challenging of trading environments.
Continue reading...from The Guardian https://ift.tt/2XczBEh
