The new ‘hybrid’ pension scheme for former members of the BT Pension scheme is available from 1st April 2019 but those eligible have 6 months to make a decision on signing up. CWU members can get advice from lighthousefinancialadvice.co.uk quoting CWU.
Alongside the management problems of the last re-organisation, BT Fleet is struggling to hold on to work. Speculation about a sell off is everywhere given the BT management attitude to some parts of the organisation. Sky News reported that BT is actively pursuing a sale.
Sky Retail – the part of the firm that has stalls in shopping centres – has made huge changes to pay and bonuses – and removed all its store manager posts at a stroke. Those affected had pay cut, were refused redundancy, and not even allowed a formal grievance. Employment Tribunal cases have been lodged. Many staff believe this is preparation for closing down Sky Retail.
In a rerun of activities early in the millennium, BT is looking to cut its way to financial success. Following the chopping of staff pensions, next is the attack on ‘non core’ assets. First this time around is BT Facilities – only brought ‘in house’ a few years ago. Management plan to sell it to CBRE and ISIS. Rumour is rife as to what is next - anything could be classified ‘non core’.