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UK's Crest Nicholson furloughs three-fourths of staff as coronavirus hits operations

Reuters
·1-min read

(Reuters) - British homebuilder Crest Nicholson Holdings <CRST.L> said on Thursday it had furloughed around three-quarters of its workforce as most of its operations remain closed amid coronavirus-induced lockdowns.

The company employed about 1,005 persons a month in 2019, according to its annual report.

Crest Nicholson added it had qualified for a credit assessment to apply for government aid aimed at public services, people and businesses affected by the pandemic.

Last month, the company cancelled its final dividend along with financial forecasts for 2020, hurt by the virus outbreak.

(Reporting by Shanima A in Bengaluru; Editing by Ramakrishnan M.)