Axminster Carpets bosses take “significant” pay cut
Executive main board members “share the pain” by volunteering for “meaningful pay reductions”
Senior managers at Axminster Carpets have taken a significant wage cut, The Herald can reveal.
The news came as the factory began its seventh week of short time working in response to tough trading conditions.
Managing director Josh Dutfield confirmed that the executive main board had volunteered “meaningful pay reductions” as a sign of solidarity with the workforce.
He said the move had been taken because everyone felt it was important to share the pain whilst asking others to do so during a time when tough decisions were having to be made.
In a statement he said: “ Axminster Carpets can confirm that short time working has been in place over the last 6 weeks at the Axminster Factory.
“Whilst the retail environment remains difficult the company continues to see significant growth in all other markets as it diversifies away from a ‘one market business’ and seeing a much improved forecasted financial position for 2013.
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“The company must still adapt to the change in retail environment in other areas of the group but without question, these actions will help protect skills and jobs for the future in the manufacturing departments.
“The Company would firstly like to express publicly, sincere thanks to all employees affected in the way they have conducted themselves in the past few weeks.
“Everyone has appreciated the recent actions surrounding short time working have been difficult with the process not being communicated in a manner the company would come to expect.
“I am grateful that despite these issues, the necessary but difficult actions are in place due to the common sense approach adopted by all.”
* Axminster Carpets employs around 500 across all its operating sites, which include its Buckfast plant and manufacturing centre in Curragh, Ireland.
The firm was recently granted a royal warrant enabling it to advertise its floor coverings as “by appointment to Her Majesty The Queen”.