Initially, the short-time working regulations primarily affect employees from the group's head office in Heidelberg. The extent of short-time work is determined for employees, depending on the loss of work and can be up to 100%.
Also, the supervisory board and the management board of HeidelbergCement have decided to voluntarily waive 20% of their fixed salaries in the second quarter of 2020.
Dr Dominik von Achten, CEO of HeidelbergCement, said: "In addition to the necessary cost savings, this is a clear sign of solidarity in the company, especially with our foreign subsidiaries. We all have to do our part to cope with the difficult situation around COVID-19 as best as possible. The aim is to extend this voluntary sign of solidarity to the next management level in the company."
In the corporate headquarters as well as in many national affiliates of HeidelbergCement, the management has called on managers to take a similar, voluntary solidarity action and has received a broad commitment. In countries where comparable instruments for short-time work are available, the company also uses them.
In mid-March, the board had already agreed with the works council on company holidays for the head office in Heidelberg until the end of April 2020. Many foreign subsidiaries had already started reducing working hours and adjusting the number of employees as needed at the beginning of March.
HeidelbergCement plans to hold the group's Annual General Meeting on 4 June 2020 as a purely virtual event without the physical presence of shareholders and shareholder representatives.
