Reach resumes pension deficit payments

Posted: July 15th, 2020

In a recent wide-ranging financial press report, which included some grim news on job losses at Reach, the company stated: “Delivering for all stakeholder groups: The accelerated strategy and new structure will enable Reach to end the previously announced temporary pay cuts for all colleagues except for the CEO, CFO and other Board members, whose pay will continue to be subject to a 20 per cent reduction. All annual bonus schemes relating to 2020 remain suspended. The company will also resume its monthly contributions towards historic pension deficits following the deferral announced in April. The Reach Board recognises the importance of a dividend to our shareholders and will keep future dividends under review, restarting payments when it is appropriate to do so.”