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BT is cutting 13,000 managerial and back-office jobs and plugging its pension black hole,

Presumably they will be offered the 4000 lower paid jobs, so they can avoid the redundancy.
 
Darth Vader said:
But where will 13,000 middlemen end up? Ah we'll build a Golgafrinchan Ark Fleet Ship B.
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Just remember how unimportant they are when your billing is wrong, or your service isn't what you're paying for and it takes them 3 hours to answer your phone call to complain...
 
Pension funds should be ringfenced, end of. That they are allowed to be plundered and gambled with on the stock markets is incredibly sad.
 
Not surprised ....

Binned em' off years ago as they provide a crap service, and as for their telephone support - they should get renamed from British Telecom to Bangalore Telecom !
 
"The firm also announced a 13-year plan to plug its £11.3bn pension fund deficit, including regular payments into the scheme..."
Extraordinary isn't it that they are not already making regular payments into the scheme! As mentioned above there should be much tighter requirements around pension scheme funds.
 
ghostbusters said:
It looks to me like the pension fund will be buying the bonds to cover the shortfall ? Could someone please explain to me how BTPS investing in BT plugs the gap? Should this even be allowed?
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No, using pension funds to invest and pay shareholders, invest in risky funds, or offset losses, should not be allowed, but it is.

Consider what happened with BHS.

When I was a kid I used to scoff at paying into a pension because I couldn’t see how it could be safe, now I am seeing why this is indeed the case. I just couldn’t understand why big businesses would just let a massive pot of money sit there, paid in by the own employees, but here we are...
 
Darth Vader said:
Perhaps they will cut their prices and improve the service as well?

But where will 13,000 middlemen end up?
Cheers,

DV
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Ad nauseam.

Corporate profits up.

Blood Pressure up.

Unemployment up.

Dividends up.

You voted for it.
 
sean99 said:
It seems you are making light of what will be for many a time of great anxiety and uncertainty.
Perhaps you are alright, Jack ?
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We will need to see if the service deteriorates. If it doesn't, the 13000 were surplus to requirements. BT are a public company, not a branch of the benefits system.

Chris
 
Mescalito said:
We will need to see if the service deteriorates. If it doesn't, the 13000 were surplus to requirements. BT are a public company, not a branch of the benefits system.

Chris
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You really are either a uniquely odious individual or a massive troll, or both - whatever, if I said what you have said many times a day since your benighted return, I would have been banned - again.

The standards acceptable on this forum are quite inpenetrable.
 
Cav said:
You really are either a uniquely odious individual or a massive troll, or both - whatever, if I said what you have said many times a day since your benighted return, I would have been banned - again.

The standards acceptable on this forum are quite inpenetrable.
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Because I do not subscribe to your wish-washy pseudo socialism I should be banned?

BT's first priority is to be as profitable as possible. They are a limited liability company, existing first and foremost to turn a decent profit. They are not a benevolent society. If their employees contribute to that goal, great. If not, they are surplus to requirements. The trick is to contribute to that goal.

Chris
 
No, just for the reasons I outlined above. 13,000 real people, who paid their taxes and contributed to the economy (which seems very important to you, for some reason), will now, by the whim of big business (that you seem to hold in great esteem), become scroungers and leeches (as you term the unemployed). They will suffer; their families will suffer, the economy will suffer but, of course, Chris Don't Care.

Vile and unwelcome attitude and that has nothing to do with politics simply basic humanity, but Chris Don't Care, YAWN.
 
Cav said:
No, just for the reasons I outlined above. 13,000 real people, who paid their taxes and contributed to the economy (which seems very important to you, for some reason), will now, by the whim of big business (that you seem to hold in great esteem), become scroungers and leeches (as you term the unemployed). They will suffer; their families will suffer, the economy will suffer but, of course, Chris Don't Care.

Vile and unwelcome attitude and that has nothing to do with politics simply basic humanity, but Chris Don't Care, YAWN.
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They will become unemployed. Shit happens. Most of them will find alternative employment within a few months.

Oh, and I have never termed the vast, vast majority of unemployed people leechers & scroungers.

Chris
 
I hope nothing untoward happens to you or your family but if it did, I would not be here saying "shit happens" and that is the essential difference between you and almost everyone else.

If I can, I will refrain from rising to your selfish commentary from now on.
 
Cav said:
I hope nothing untoward happens to you or your family but if it did, I would not be here saying "shit happens" and that is the essential difference between you and almost everyone else.

If I can, I will refrain from rising to your selfish commentary from now on.
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Things have happened to me and my family. But I didn't just moan about it. I did something about it.

Chris
 
Cav said:
The standards acceptable on this forum are quite inpenetrable.
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Quite agree - I have a long list of people on ignore, the mods rarely do anything about complaints. IMO the whole mod thing needs updating
 
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