BA chief executive refuses bonus
British Airways chief executive Willie Walsh has refused a £334,000 bonus as the dispute with the unions continues. This is the second time that Willie Walsh has refused a bonus offer from the remuneration board although he is still on a basic salary of £735,000. He also waived his pay in July, as did many British Airways staff, as a means of saving money for the company.
As the more recent industrial action comes to an end there are already rumours that the unions are about to ballot members for further industrial action in the short-term. Suggestions that the two parties may well come to an agreement to end this dispute appear to be well short of the mark and the two parties appear more at odds than ever before. There will come a point when both parties will have to give some ground to save the day but meanwhile the reputation and the finances of British Airways are being impacted yet again.
Industrial action in the UK is set to mushroom over the next couple of years as conflicts between management and unions are certain to become more commonplace. With wage rises in the UK unlikely in many areas until 2015 there is certainly more scope for conflicts in the future.
Share this..
Related stories
Can Lloyds bank really shake off the UK government?
The proposed £10 billion rights issue by Lloyds bank is perhaps one of the worst kept secrets in the city although there is some confusion today as to whether influential shareholders have been approached about their support. It looks as though Lloyds bank is prepared to do whatever it takes to shake off the UK government and ensure that the UK government shareholding does not increase over the 5...
Read MoreRBS chief looks to stem the flow of investor anger
Stephen Hester, the chief executive of the Royal Bank of Scotland, has this week written to the Association of British Insurers (one of the most powerful investment groups in the UK) suggesting that he will not touch his potential multi-million pound share bonus pot until after 2014 - two years later than originally announced.
While this particular move has been well received by the...
Is Kraft Foods set to increase Cadbury bid?
Irene Rosenfeld, the chairwoman and chief executive of Kraft Foods, is rumoured to be on the verge of sanctioning an increase in the company's offer for the UK chocolate giant Cadbury. Speculation in the market is rife that Kraft Foods is set to increase its offer to around eight pounds a share with Cadbury directors adamant they will not recommend an offer less than this figure. However, the situ...
Read MoreIs the UK now a target for overseas investors?
Over the last two years we have seen a significant reduction in various exchange rates against sterling which has caused some problems in the UK. The importing of goods is now more expensive than it has been for some time although on the positive side we have seen an increase, albeit less than expected, in exports. However, is the UK now becoming a target for overseas investors? Over the last 1...
Read MoreUK car scrapping programme proving a success
Against the majority of opinion in the UK, the UK government's car scrappage program has proved to be highly successful in its first month with over 35,000 cars replaced so far. As popularity of the scheme continues to increase there are hopes that this could end the downward spiral experienced by the UK car manufacturing industry over the last few months. However, there is one fly in the ointment...
Read More