(Refiled for wider distribution)
April 1 (Reuters) - UK housebuilder Taylor Wimpey
said on Wednesday it was cancelling a planned pay rise and bonus
payments for management this year, with directors also taking a
30% cut in pay for the duration of the coronavirus lockdown.
The company last week cancelled its final and special
dividends for 2020 and drew down 550 million pounds ($645.54
million) in credit facilities to shield its balance sheet
against the blow of the coronavirus pandemic.
(Reporting by Patrick Graham; Editing by Bernard Orr)
Taylor Wimpey (TW.)