Fury at jobs threat after boss of car dealer Pendragon gets £413k bonus
- Pendragon has put 250 of its 400 accountants in a redundancy consultation
- Chairman and chief executive Bill Berman received a £413,000 bonus payment
- Pendragon has taken £52m in taxpayer support and already slashed 1,800 jobs
Car dealer Pendragon has sparked fury among its workforce by putting hundreds of jobs at risk amid a backlash over its boss’s bonus.
The Mail on Sunday can reveal that the firm has put 250 of its 400 accountants in a redundancy consultation that is due to end next month.
The firm, which owns Stratstone and Evans Halshaw, will cut the jobs at its dealerships and centralise the roles at its headquarters in Nottingham, creating 110 new roles there.
Jobs at risk: Pendragon has put 250 of its 400 accountants in a redundancy consultation
Pendragon suffered a significant rebellion this month when investors including 13 per cent shareholder Anders Hedin condemned a £413,000 bonus payment to chairman and chief executive Bill Berman, taking his total package to £923,000.
The payout came in a year when Pendragon had taken £52million in taxpayer support and already slashed 1,800 jobs.
It culled 400 workers as it shut 15 showrooms, and 1,400 went following an operational review begun before the pandemic.
One employee said: ‘I’m disappointed to have to leave after years of service. Ultimately, the staff are a cost and cutting us will reduce the bottom line. It makes you angry that the chief executive is taking his bonus while we’re losing our jobs.’
The firm said: ‘These measures will, unfortunately, result in changes to our workforce. However we believe this new function will make an important contribution to our ability to meet the challenges of a changing market.’