BT Pay 2012
Push for Improved Pay Award Continues
7 February 2012
The overwhelming response we have received from members on pay is that you feel BT has backed away from a commitment with its intention not to increase the 3% pay award effective from January, despite the rise in the cost of living.
That is why the CWU is continuing to pursue an improved pay award for Team Member NewGRID grades for 2012.
We are determined to do all we can to ensure BT stick to their promise, set out in the 2010 pay agreement, of seeking to mitigate the impact of volatile inflation.
Last week BT announced its third quarter results to 31 December 2011, demonstrating it is a highly profitable and competitive company which has grown free cash flow and strengthened its position in new markets.
Highlights of the results include:
- Pre-tax profit up 48% to £652m
- Earnings per share up 40% to 6.3p
- Free cash flow up by £65m
- Total operating costs down 9% or £314m
- Total labour costs down 3%
- Fibre roll-out accelerated bringing superfast broadband within reach of 7m premises
The cost of essentials like food and fuel have risen whilst BT has reduced its costs, putting more pressure on staff at a time when employees are being asked to help the company to grow.
The CWU is due to meet with BT again on 15 February 2012 to discuss this issue.
The union will continue to vehemently argue for an improvement to the 2012 pay award.