Pandemic pay cuts will barely affect UK’s bonus culture, study finds

People enjoying the hot weather by the river Thames in London recently. British-based companies with more than 250 employees are obliged to disclose the salary gap between the CEO and the average employee. – EPA pic, August 5, 2020.

PAY cuts taken by British bosses during the pandemic will have little effect on the “bonus culture” causing wide inequalities within companies, according to a study published today. 

A total of 36 companies on the FTSE 100, the London Stock Exchange’s flagship index, have announced cuts in executive pay due to the economic crisis resulting from the pandemic, the annual report said.

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