James Watt and Martin Dickie, the founders of craft beer giant BrewDog, have said that they will give up their salaries this year as part of moves to protect the business during the coronavirus outbreak.
In a tweet earlier this week, Watt said: “In order to protect as many jobs at BrewDog as we can, many of our senior team have volunteered to take pay cuts.
“Myself and my co-founder Martin are forgoing all salary for 2020. But we have not started sleeping in the brewery (yet).”
The group’s COO David McDowall volunteered to take a 50% pay cut.
In a letter to shareholders last month, Watt revealed that Brewdog had seen a 70% drop in revenue almost overnight after lockdown measures were imposed in the UK.
“The reality is our business, and the vast majority of businesses, now face a fight to be able to survive and make it through this crisis,” he said.
BrewDog’s bars around the world have been shut due to coronavirus lockdowns. However, the company has been using its brewing facilities to make hand sanitiser for NHS and local charities.
NAM Implication:
- Some steps will not be forgotten…
