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Woolworths bosses are giving up a third of their salaries to pay staff extra during the coronavirus lockdown

Woolworths has published a trading statement outlining how Covid-19 and the country’s lockdown are currently affecting its business.

The group said that the impact of the virus is being felt across all markets in which it operates ,and it is now ‘considering strategic options’ to best mitigate the impacts of the crisis and to ensure the appropriate robust response in this developing situation.

“In recognition of the challenging circumstances, the WHL Board, group chief executive officer and senior executive team members have decided to forego up to 30% of their fees and salaries over the next three months,” the group said.

“The savings arising from this will be used to provide additional financial support to staff who find themselves in extreme hardship as a result of the current crisis.”

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