Salaries fully restored at Renishaw
The measurement specialist Renishaw plc has announced the restoration of the final 10% of the salaries that its staff had volunteered to forego as the Gloucestershire-based company fought off the worst effects of recession.
Renishaw chairman and chief executive Sir David McMurty (pictured) said that based on the month by month improved performance of the group, he was pleased to report that the directors had restored retrospectively the remaining 10% voluntary reduction in salaries ceded by staff with effect from 1 October and would make a partial payment in respect of the reduction for September 2009.
With effect from 1 January 2010, salaries will be paid in full. Payment of the restored amount, totalling £2.3 million, will be made in the company's December 2009 payroll.
Renishaw is due to announce its half year results to 31 December 2009 on 27 January 2010.
