A mass strike was averted when Telecom’s BT worked out a deal with the Commercial Worker’s Union (CWU). While the CWU did not get what they hoped, which was a 5 per cent pay raise, the negotiation gave their members a 3 per cent annual raise for a little over the next 3 years. The 3 per cent was above the 2 per cent BT originally sought to award.
Negotiations have been going on for months and it was the first time CWU had asked for a ballet in 20 years. With stability to the work force achieved, BT shares were up in trading.
BT Chief Executive, Ian Livingston, said in a statement: “This agreement is good for BT, its employees, shareholders and customers. BT will benefit from a long period of certainty whilst our employees will have financial stability during uncertain economic times. Industrial action would have been in no-one’s interest.”
the CWU hailed the 3 per cent raise as a fantastic deal.
BT is UK’s leading fixed-line phone company. BT is currently in construction of a super fast broadband network that will help in their competition with rival Virgin Meade.