The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGOG.L Share News (GOG)

  • There is currently no data for GOG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Rail workers' union accepts offer from train operators

Fri, 24th Feb 2023 14:37

(Sharecast News) - Relief from months of railway strikes and industrial action looked to be on the horizon on Friday, as members of the TSSA union accepted offers from train operators.

The union said the agreement covered pay, job security, and conditions, and was supported by a significant majority of members in an online ballot.

It said the two-year pay deal would provide a 5% increase, or a minimum of £1,750, in the first year, and a further 4% increase in the second year.

The agreement also included a commitment to no compulsory redundancies for employees within the grades directly affected by workforce changes until the end of 2024, and a voluntary redundancy scheme offering the terms set out under the RIRG Enabling Framework Agreement in 2021.

TSSA said the grades directly affected by the workforce changes would include all station-based grades, all on-board grades including catering and train crew, all administration grades, all fleet and engineering grades, and all revenue protection and train service controller grades.

The online ballot saw 80% of management grade and 60% of general grade members vote to accept the offers, representing an overall return of 57% of affected members voting.

"This is a clear decision from our members which will end our long-running dispute - something which could have happened months ago had it not been for government intransigence," said a TSSA spokesperson.

"The incredible resolve we have seen from our members has resulted in a significantly improved pay deal over two years, commitments for no compulsory redundancies, improved opportunities for redeployment, as well as full consultation over proposed reforms to ticket offices and any changes to terms and conditions.

"We will continue to hold the train companies and the government to account as we go forward because Britain needs a fully functioning rail network at the heart of our green industrial future, and as a means of rebuilding our economy in the wake of the Covid pandemic."

Despite the acceptance of the offers, TSSA said it was continuing to oppose the proposed closures of ticket offices.

The train companies involved in the agreement included Avanti West Coast; C2C; Chiltern Railways; CrossCountry; East Midlands Railway; Govia Thameslink Railway, including Southern, Thameslink, Great Northern and Gatwick Express; Greater Anglia, GWR; LNER; Northern Trains; South Eastern; South Western Railway; TransPennine Express; and West Midlands Trains.

Reporting by Josh White for Sharecast.com.

More News
17 Mar 2022 08:16

LONDON BRIEFING: Deliveroo loss widens but pedalling toward breakeven

(Alliance News) - Food delivery firm Deliveroo on Thursday said 2021 was a year of strong growth and strategic progress, which it believes will lead to long-term profitability.

Read more
9 Mar 2022 11:41

IN BRIEF: Go-Ahead hires Royal Mail UK interim CFO as finance chief

Go-Ahead Group PLC - Newcastle, England-based public transport operator - Hires Sarah Mussenden to be chief financial officer, starting May 9. Mussenden currently is interim CFO at Royal Mail UK, part of Royal Mail PLC. Previous roles were at British Gas, part of Centrica PLC, and British Airways, part of International Consolidated Airlines Group SA. She currently is a non-executive director of asset manager Premier Miton Group PLC. At Go-Ahead, Mussenden will replace Interim CFO Gordon Boyd.

Read more
24 Feb 2022 16:35

Go-Ahead expects to pay GBP30 million penalty amid "challenging" year

(Alliance News) - Go-Ahead Group PLC said on Thursday that it had narrowed its pretax loss but noted issues with the UK Department for Transport regarding its London & South Eastern Railway operations.

Read more
24 Feb 2022 10:11

Go-Ahead records 'strong' performance in long-delayed results

(Sharecast News) - Go-Ahead Group reported a "strong" financial performance in its bus and Govia Thameslink Railway (GTR) operations in its much-delayed full-year results on Thursday, offset by challenges in its international rail division and its former Southeastern rail franchise.

Read more
24 Feb 2022 08:15

LONDON BRIEFING: Warren East to depart as CEO of improving Rolls-Royce

(Alliance News) - Rolls-Royce on Thursday said Chief Executive Officer Warren East has decided to step down at the end of 2022, after nine years on the board and almost eight years as CEO.

Read more
23 Feb 2022 09:51

IN BRIEF: Go-Ahead to release delayed annual results on Thursday

Go-Ahead Group PLC - Newcastle-based bus and train operator - Plans on Thursday to release its delayed results for the financial year that ended July 3 last year. At that point, Go-Ahead will ask for the suspension of trading of its shares and corporate bonds to be lifted. The suspension was imposed because the company missed the deadline for filing its accounts. The delay was to allow auditors Deloitte to consider the implications of a review of the London & South Eastern Railway franchise, operated by Go-Ahead. The UK government found that "serious errors" were made by LSER in its dealings with the Department for Transport over several years. Go-Ahead apologised for "failing to notify the DfT of certain overpayments or monies due to the DfT", but the government is considering enforcement action, including a financial penalty.

Read more
31 Jan 2022 15:28

Moody's withdraws British rail firm Go-Ahead's rating

LONDON, Jan 31 (Reuters) - Moody's has withdrawn its credit rating of UK rail and transport firm Go-Ahead after the company delayed the publication of its financial results for a fourth time, the ratings agency said on Monday. "Moody's has decide...

Read more
24 Jan 2022 10:02

IN BRIEF: Go-Ahead expects annual results release end February

IN BRIEF: Go-Ahead expects annual results release end February

Read more
24 Jan 2022 09:00

Go-Ahead results delayed again as auditors ask for more time

(Sharecast News) - Crisis-hit transport group Go-Ahead on Monday delayed publication of its financial results for a third time as investigations continue into its rail franchise scandal.

Read more
19 Jan 2022 15:18

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

Read more
4 Jan 2022 14:02

Go-Ahead shares suspended due to late-running results

(Sharecast News) - Go-Ahead Group made a request for its shares and bond to be temporarily suspended from trading on Tuesday, pending its results for the year ended 3 July.

Read more
4 Jan 2022 10:34

IN BRIEF: Go-Ahead suspends listing on annual results delay

IN BRIEF: Go-Ahead suspends listing on annual results delay

Read more
21 Dec 2021 21:40

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

Read more
20 Dec 2021 16:21

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

Read more
15 Dec 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.