<p><span>Persimmon is to cut senior executives’ pay in response to the coronavirus crisis.</span></p> <p><span>In an update issued on its remuneration</span><span> policy,<b> </b>the volume housebuilder stated that its executive directors had </span><span>agreed</span><span> to take a temporary 20% reduction in their base salaries as of April 1, “</span><span>until such time as the group is able to recommence work on site”.</span></p> <p><span>Executive directors will also not be paid any cash bonuses which may have been due this year.</span></p> <p><span>And until sites reopen, Persimmon’s non-executive directors will reduce their fees by 20% as of the start of this month.</span></p> <p><span>This follows Taylor Wimpey’s decision to cut senior pay earlier this week, with </span><span>executive directors taking a voluntary 30% reduction in base salary and pension for the duration of the government-imposed lockdown.</span></p> <p><span>Persimmon said it was taking the steps </span><span>“in recognition of the current extraordinary circumstances”.</span></p> <p><span>On March 25, the company announced the temporary closure of all sales outlets and “an orderly shutdown” of its construction sites.</span></p>