Aviva scraps bonuses and pay increases for executives amid coronavirus outbreak
- Credit: Archant
Top brass at Aviva will not receive their bonuses for 2020 - or receive a basic pay increase.
The insurance giant, which employs 5000 people in Norwich’s Surrey Street, said that there is a need for “continued prudence” amid the coronavirus outbreak.
A spokesman for the company said: “In light of the siginificant uncertainties presented by COVID-19, executive directors and the Aviva leadership team will not be considered for any bonus for 2020 until dividend payments are restarted for ordinary shareholders. “Basic pay increases for executive directors and the leadership team, due to come into effect on April 1, will be paused until dividend payments are restarted for ordinary shareholders.”