You are:

News

Return to news listings

GWR: 2017 Pay Talks

4 April 2017

 

What has happened so far?

TSSA used the first pay meeting to remind GWR of their particularly good accounts for the financial year ending March 2016- some of the headline information from this is as follows;

 

March 2016

March 2015

Increase - £/%

Highest Paid director – Basic Pay

£239,000

£203,000

+£36,000/+17.7%

Highest Paid director – Bonus

£160,000

£128,000

+£32,000/+25%

Highest Paid Director – Total aggregated Emoluments (Package)

£411,000

£343,000

+£68,000/+19.8%

Employees

5,830

5,608

+222/+3.96%

Turnover

£1,009,705,000

£956,329,000

+£53,376,000/+5.6%

Turnover per Employee

£173,191

£170,529

+£2,662/+1.56%

Operating Profit

£56,099,000

£28,377,000

+£27,722,000/+97%

Retained Profit (profit after tax)

£45,230,000

£21,423,000

+£23,807,000/+111%

Operating Profit per employee

£9,622

£5,060

+£4,562/+90%

Retained profit/profit after tax per employee

£7,758

£3,820

+£3,938/+103%

(Base data from First Greater Western Limited Accounts for year ended 31 March 2016 – some information has then been calculated from that data)

Whilst their performance in the 2016 tax year was very good, you will be aware the company were very keen to point out that since March 2016 their revenues have decreased, we did point out that GWR had been more successful in translating additional turnover into profit in 2016 compared with 2015!

At the first meeting, the unions ran over their respective pay claims (Go here -http://bit.ly/GWR17PayT to see TSSA’s). At that point only January’s Inflation/Retail Prices Index (RPI) had been published and it sat at 2.6% GWR made indications that they would be likely to make an offer based on inflation. In the intervening period February’s RPI (the RPI normally used as the basis for pay deals with GWR) rose to 3.2%.

GWR started off the meeting by discussing that the rise in Inflation would make things difficult for them to offer 3.2% and so they wanted to consider other options that would make it possible to offer that figure this year, this included:

· Considering a multiyear deal, potentially extending to 3 years if the franchise was extended

· Review of the grievance procedure to reduce the number of stages

· Review of the managing for attendance procedures with the aspiration of amending the arrangements for those on Wessex contracts

We discussed how multiyear deals might look and even though Inflation is projected to be high over the next few years how none of us have a crystal ball. Therefore, the unions were pushing for floor in years 2 and 3 and for consideration of a minimum payment to assist those on the lowest pay. We also requested a formal response to the other elements of our pay claims.

A further meeting is planned for 26th of April and we hope to have some more tangible proposals to work through following that meeting.

TSSA are still seeking clarity for the Management graded colleagues to ensure that everyone gets parity in terms of payment and we will keep our members updated on progress in that regard. We are conscious that those on a Wessex contract have a 1st of April anniversary date and will be keen to understand how they will be treated. If any members wish to find out more, please email Alan Valentine by clicking here

Remember if there weren’t strong unions with solid membership bases in GWR we wouldn’t be able to get good pay deals and push for decent terms and conditions, please encourage any colleagues who aren’t a member of a trade union to join TSSA www.tssa.org.uk/join

Moving house/workplace? Changing Jobs? - If your circumstances are changing and you want to ensure you receive communications in future please make sure your home address, email address and other contact information such as workplace location, job title and phone numbers are up to date. You can do this online by registering for My TSSA and amending your details at www.tssa.org.uk/myTSSA

Remember if you are leaving GWR, TSSA may still be able to represent you in your new company, just remember to update your details or if you are approaching retirement please contact retired@tssa.org.uk

Return to news listings

Join TSSA

 

 

Directory