Advertisement
UK markets closed
  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     
  • FTSE 250

    20,645.38
    +114.08 (+0.56%)
     
  • AIM

    789.87
    +6.17 (+0.79%)
     
  • GBP/EUR

    1.1622
    +0.0011 (+0.09%)
     
  • GBP/USD

    1.2525
    +0.0001 (+0.01%)
     
  • Bitcoin GBP

    48,601.41
    -1,517.52 (-3.03%)
     
  • CMC Crypto 200

    1,263.64
    -94.37 (-6.95%)
     
  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     
  • DOW

    39,512.84
    +125.08 (+0.32%)
     
  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     
  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     
  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     
  • HANG SENG

    18,963.68
    +425.87 (+2.30%)
     
  • DAX

    18,772.85
    +86.25 (+0.46%)
     
  • CAC 40

    8,219.14
    +31.49 (+0.38%)
     

Rentokil adds layoffs, board salaries to cutbacks

April 16 (Reuters) - Pest control company Rentokil Initial said on Thursday it was pushing ahead with cuts in spending including staff lay offs and a 35% cut in board members pay as it braces for a bigger hit to operations in the second quarter due to the coronavirus pandemic.

The company, which operates in 81 countries around the world and employed around 43,000 according to its last annual statement, also said all of its Chinese employees had now been able to return to work and that it had drawn down funds under Britain's Covid Corporate Financing Facility.

It gave no details of how many workers it had furloughed and laid off.

The coronavirus lockdowns have hit Rentokil's services for hotels, restaurants, schools and the airline industry, forcing it to cut spending and suspend dividend payments, but it has also said it is ramping up training for technicians for disinfection services due to a surge in demand. (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)