The company have painted an upbeat picture of the company’s financial health in the public statement accompanying the release of the results. It states that ““BT has had a good quarter with encouraging market share performance” and points to a future where the company will become increasingly profitable. However, this positive outlook contrasts with Philip Jansen’s guarded comments on pay. In a video message to employees the Chief Executive has stated things aren’t as rosy as he would like.
It is welcome that the Chief Executive has once again restated that there will be a pay rise this year and that he will work with the unions to deliver this. Prospect would argue that a significant pay rise for all members is warranted this year, not least after a two-year pay freeze and during what is the biggest cost of living crisis the country has faced for thirty years. Managers in BT have already seen their real terms pay eroded during the freeze and are now seeing real pay further shrink because of inflation at 5.4%, record increases in energy prices and forthcoming tax hikes.
The Prospect position is clear in that we demand a fair pay rise for all in 2022. You have worked above and beyond in keeping the country connected and delivering profits for BT. An offer that does not address the severe erosion of your take-home pay will not be acceptable and the union’s pay team will make this abundantly clear when we begin negotiations with the company next week.