Well done everyone for adapting to the new normal, I hope you and your families are safe and well in these worrying times.
Our IT department has done a sterling job in getting everyone hooked up at home and our engineers have kept the company afloat by attending our contracted sites. A big Thank you to all for adapting to the difficult circumstances we all are now facing.
The government has advised us that lockdown will continue for a further 3 weeks. This will inevitably bring further challenges to families, the economy and the business.
We are finding that our income streams are diminishing during this period with most of our modernisation work on stop and our clients looking to spend as little as possible in order to mitigate some of their losses. We are expecting to lose a percentage of our income in the lockdown period and in the recovery period.
In order to protect the company and ensure we can pay all our commitments it makes sense to defer our normal pay review in April, this will also unfortunately defer any promotions and bonuses that have been agreed. When we are back to normal operations we will honour these commitments.
However I think it is important to recognise the commitment of our out in the field engineering staff during this time. Their dedication in attending our sites and operating as far as possible a normal service to our clients is enabling our company to maintain an income stream that pays all our salaries and is showing an important presence in the marketplace. This will be essential in ensuring a smooth as possible recovery, so with this in mind wherever possible we will look to honour their salary reviews in the next payroll, your Regional managers will be able to provide details.
Once again a big Thank you for your commitment in this difficult time. If nothing else this time proves how the company operates as a team and the stronger the team the better all our outcomes.