Business
Correction - Forbes
Correction - Forbes.
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n \n \n RNS Number : 2512M\n Wetherspoon (JD) PLC\n 07 May 2020\n \n \n \n \n For immediate release\n \n \n 7 May 2020\n \n \n JD Wetherspoon plc (\"the company\")\n \n \n \n \n \n Correction - Forbes\n \n \n \n \n \n Articles published online by the business magazine Forbes, on 27 March and 3 May 2020, made a number of factually incorrect statements regarding the company. It was alleged that the company told the \"workforce that not only would they not be paid, but they can trot off to get a job in a supermarket\".\n \n \n \n \n \n As regards pay, a company video, recorded on Sunday 22 March (transcript below, appendix 1), actually said, \"all our endeavours are going to be on trying to make sure that you get your money and that the pubs reopen\".\n \n \n \n \n \n An email, sent out with the video, said: \"All hourly paid employees will be paid as normal on Friday 27 March for all hours worked up to, and including, Sunday 22 March 2020.\"\n \n \n \n \n \n Staff were paid on that Friday and have been paid on every Friday since.\n \n \n \n \n \n The statement in Forbes that staff were told they could \"trot off to get a job in a supermarket\" is misleading.\n \n \n \n \n \n The video actually said \"If you're offered a job in a supermarket, many of you will want to do that. If you think it's a good idea, do it...I promise you, we'll give you first preference if you want to come back.\"\n \n \n \n \n \n Furloughed pub and restaurant staff are legally allowed to receive extra income if they work for supermarkets as well.\n \n \n \n \n \n Forbes also said that the company \"announced that... pubs WILL (Wetherspoon capitals) open sometime in June.\" That is also incorrect. \n \n \n \n \n \n In a stock exchange announcement on 29 April, Wetherspoon said: \"the company's current assumptions are that its pubs will remain closed until late June 2020\". \n \n \n \n \n \n The assumptions related to the modelling of two financial \"scenarios\", for the benefit of investors, which necessitated an estimated opening date. \n \n \n \n \n \n The date was only an estimate and the company made clear that it would only open when permitted by the government.\n \n \n \n \n \n \n \n \n ENDS\n \n \n \n \n \n \n \n \n \n \n \n NOTES TO EDIT...