Punch Taverns freezes wages for all but hourly-paid staff

03 March 2009 by
Punch Taverns freezes wages for all but hourly-paid staff

Punch Taverns, the UK's largest pub operator, has implemented a pay freeze for all employees apart from hourly-paid frontline staff.

The move comes as part of a wide-ranging review of costs at the company that has already seen the announcement of 100 head office job cuts and the planned departure of three senior directors.

In a statement, Punch said: "As part of our overhead cost review, we have taken the decision not to review salaries this year for all head office and salaried pub teams (including our group management board, our Exec and our senior teams).

"Our priority is to ensure that we keep our cost base to a minimum and that we invest our time and resources in actively supporting our licensees and driving sales in our managed pub estate."

However, to ensure that staff are rewarded for their hard work, Punch added that it would be "making some adjustments to our bonus schemes where we feel this is necessary".

Punch makes three directors redundant in cost purge >>

Punch Taverns considers selling more pubs after strong demand >>

Punch puts 1,000 pubs in to new turnaround division >>

Punch Taverns sees profits fall at its leased estate >>

Punch Taverns spends £14m on helping licensees during slowdown >>

By Daniel Thomas

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