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Share Price Information for BT (BT.A)

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Share Price: 141.60
Bid: 141.75
Ask: 141.85
Change: -0.95 (-0.67%)
Spread: 0.10 (0.071%)
Open: 142.25
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Low: 140.20
Prev. Close: 142.55
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Nearly 60,000 BT workers to get GBP1,500 bonus for pandemic efforts

Wed, 24th Mar 2021 08:48

(Alliance News) - Nearly 60,000 frontline workers at telecommunications provider BT Group PLC are to get a GBP1,500 special bonus in recognition of their efforts during the pandemic.

The group said 59,000 of its key workers will receive GBP1,000 in cash in June, with GBP500 to be awarded in shares under its employee share scheme after three years.

The payout – costing BT GBP110 million – is equivalent to around 5% of average employee salary, according to the group.

BT Chief Executive Philip Jansen said: "Our frontline colleagues and key workers have been true heroes, keeping everyone connected in this most difficult time.

"BT has delivered for our customers through the dedication of all our people, but inevitably the pandemic hit our financial performance, like that of most companies.

"In this context, we have to prioritise and I am determined that we will do everything in our power to reward our frontline colleagues."

The group has been playing an important role during the pandemic, helping keep Britain connected as many people have been working from home.

BT also awarded its entire 100,000 workforce shares worth GBP500 for each employee last June to reward their efforts during the crisis.

The latest bonus comes despite a pay freeze across the company and amid an ongoing dispute with trade unions over BT's overhaul plans.

Employee members of the Communication Workers Union are voting over industrial action in a row over jobs, which threatens the first national strike at BT in more than 30 years.

The dispute over compulsory redundancies and the closure of sites, has been running for more than a year.

By Holly Williams, PA Deputy City Editor

source: PA

Copyright 2021 Alliance News Limited. All Rights Reserved.

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