Feeds

BT freezes wages for 100,000

Bosses can expect 'substantially reduced' bonuses

Internet Security Threat Report 2014

British Telecom is freezing wages for all its 100,000 UK staff in a "head on" response to the economic downturn.

A BT spokesman said: “BT can confirm that, after careful consideration, there will be no pay rises as a result of this year’s review of salaries. This will apply to all UK employees, including BT’s most senior executives. The company has informed its employees and unions.

“This has not been an easy decision but, given the tough economic climate, it is important BT meets these challenging times head on.

“Our unions have always been pragmatic in recognising the challenges that face BT and so we hope they will support our efforts to ensure BT remains a healthy and sustainable company for many years to come.”

But it seems like not all BT's unions got the memo - Communication Workers Union Deputy General Secretary Andy Kerr, said: "A pay freeze is wholly unacceptable. BT is still making substantial profits and a pay cut in those circumstances is an insult to staff."

CWU will make a formal response next week.

They'll no doubt take into account that that managers and execs are still likely to be in line for bonuses - though they are expected to be "substantially lower" than in previous years.

The telco said in November that it would cut 10,000 jobs - mostly contractors and temps. An internal email, seen by the Reg, was brutal about the urgent need for serious cost cutting exacerbated by losses at BT Global Services.

But the stock market seemed unimpressed - BT shares were up very slightly today to 71.5 - half what they were worth in January. ®

Providing a secure and efficient Helpdesk

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.