How will the Coronavirus Jobs Retention Scheme will work in practice?

Does anyone have any information about how the Coronavirus Jobs Retention Scheme will work in practice?  Does the 80% reimbursement mean that it will still cost the employer 20% to retain the staff member?  What about if the employee is happy to reduce their wage by 20%?  These are questions my clients are asking as they see their businesses disintegrating. 

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