April 9, 2020 / 6:30 AM / 2 months ago

Trainline cuts cost to weather coronavirus downturn

LONDON (Reuters) - Rail and coach ticketing company Trainline said on Thursday it would cut its monthly operating costs and capital expenditure to 8-9 million pounds to help weather an extended downturn caused by the coronavirus, which has seen government advise against non-essential travel.

The British company said it was taking a range of mitigating actions, including furloughing some teams under the UK government’s coronavirus job retention scheme and cutting executive pay, including a 50% salary reduction for chief executive Clare Gilmartin for the foreseeable future.

Reporting by Paul Sandle; editing by Sarah Young

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