ACCO-action for Covid-19

ACCO Brands outlines a number of measures targeted at weathering the storm during the Covid-19 outbreak.

The office products supplier comments that it is unlikely there will be any permanent damage to the business. However, they will make a few cut backs, re-aligning cost structures and some pay cuts. Although ACCO has also said it is not expecting any staff layoffs.

CEO Boris Elisman is taking a temporary 50% cut in his base salary, with the pay of US-based senior executives reducing by 30%. The cash retainer fees of ACCO’s board members are to be temporarily halved.

Further detail will be given when ACCO publishes its first quarter results on 4 May.

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