Candid BT CEO to give workers shares — and reduce committees
Philip Jansen hopes the share scheme will get staff behind his plans to overhaul the UK’s dominant phone company, and improve morale
London — BT Group’s new CEO will give each employee £500 ($641) in shares every year to get them behind his plans to overhaul the former monopoly. Labor unions have complained of stress and low morale at Britain’s dominant phone company since it began to lay off thousands from its 100,000-strong workforce last May in an effort to simplify management. About 4,000 staff have left out of 13,000 planned cuts. It has weighed even deeper layoffs as processes are streamlined and automated and some units are sold, people familiar with the matter have told Bloomberg.
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