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Rail Fat Controllers get millions in bonus gains

19 July 2012

Placard carrying protesters staged a Fat Controllers demo in Glasgow today againt rail bosses plans to award themselves bonuses of £18.5 million over the next three years.

Fat Controllers 2

Six lookalikes from the TSSA union were dressed as the Thomas the Tank character as Network Rail's agm debated the controversial payments at the taxpayer funded firm.*

The placards read: "Great Train Robbers Got £3 Million. Fat Controllers Get £18.5 Million" and "£18.5 Million. The Biggest Gravy Train in Rail History."

Manuel Cortes, union leader, said: "The Train Robbers got away with £3 million and ended up getting thirty years inside.

"These NR bosses want to get away with £18 million of taxpayers money over the next three years. It amounts to daylight robbery and Ministers should stop this gravy train at what is a taxpayer funded monopoly."

He pointed out that under a new annual bonus scheme, bosses would earn over £4 million over the next three years with chief executive David Higgins in line for an extra £1 million.

"I would have thought that was more than enough but they want another £11.7 million in long term bonuses on top of that.

"They are living in cloud cuckoo land if they think they can get that amount of money while passengers are being forced to pay above inflation fare rises year on year to fund  investment in rail."

"They want all the gain while passengers get all the pain. So much for everyone being in this together."

Fat Controllers

* The £18.5 million in bonuses would be made up of the following if performance targets are met by the six executive directors.

  1. £900,000 paid to three director as golden handcuffs not to quit the firm.
  2. £1.7 million paid to five directors under a now scrapped long term bonus plan.
  3. £4.25 million paid to all six directors by 2015 under a new 60% of salary annual bonus scheme if they meet annual performance targets.
  4. £11.7 million paid to all six by 2015 under a new long term bonus scheme if long term targets are met.
     

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