April 2, 2020 |

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ITV slashes bonuses & salaries to deal with Covid-19

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Carolyn McCall

UK commercial broadcaster ITV has axed director bonuses and cut the pay of its board by 20% to deal with the Covid-19 pandemic.

ITV has already scrapped its 2019 dividend but its exec directors will now see their annual bonus for 2020 being canceled.

The 20% pay cut will be in place until at least 30 June, with non-exec directors also affected.

The broadcaster said: “In the event that the lockdown continues beyond 30 June 2020, the Committee will review this matter again at that time.”

ITV has seen record numbers for some of its shows over recent weeks, such as Ant And Dec’s Saturday Night Takeaway, but advertisers have cut budgets and impacted on the broadcaster’s bigger audiences.

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