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Handman all us CWU members get a free subscription when you join
Here is the article
Openreach cutbacks hit expansion of UK ultrafast fibre network
BT division suspends work on future projects as it seeks savings amid high inflation
Openreach is to limit its investment in the rollout of ultrafast fibre broadband as BT’s networking division seeks to curb costs and get “bang for its buck” with UK inflation running at its highest level in four decades.
The group has contacted suppliers to say that it will build its fibre broadband network “narrower and deeper” and “tighten the timing of investment” to a just-in-time approach, not committing capital to projects further than six months out, according to a letter seen by the FT.
“This will by necessity include an element of cancellation or suspension of a job you have received and/or validated”, the company wrote. “It is clear that there will be a financial impact to you as we implement these plans.”
The move comes a few weeks after Philip Jansen, BT’s chief executive, announced the telecoms group would raise its cost-cutting target from £2.5bn to £3bn by the end of 2025 because “inflation is pushing us hard”.
“Everyone is going to have to share the pain on cost savings,” he said as BT announced quarterly results, pointing to a £200mn increase in the company’s energy bill this year.
Limiting the extent to which Openreach expands its fibre footprint could help competitors including Virgin Media O2 and other alternative networks — or “altnets” — that are racing to lay fibre across the UK and attract customers.
Over a hundred altnets have received billions in backing from private investors to lay fibre to millions of homes, with the success of many of their business models predicated on them reaching regions before Openreach.
Clive Selley, chief executive of Openreach, said BT would be focusing on completing fibre networks in areas that are partially complete rather than breaking new ground, when asked by the FT about the message
For ALLYBALLYs eyes only
The Communication Workers Union
BT Pay Update
As reported to you last Friday 11th November 2022 we have been negotiating with BT in a bid to resolve our current dispute. Negotiations with BT have continued, and we are closing in on a final position.
We recognise you have been very patient and undoubtedly you are keen to hear more detail. We are committed to providing this as soon as we possibly can. The nature of these negotiations means that until we have a confirmed final position, we cannot communicate any specifics.
We have made clear all along that our timescale for these talks cannot be open-ended. We are continuing to talk to BT on the basis that we believe it is possible to reach an acceptable negotiated settlement. We envisage reaching a conclusion next week.
Andy Kerr Deputy General Secretary (Postal)
Dave Ward General Secretary
https://www.morningstar.co.uk/uk/news/AN_1668601393857208900/top-news-bt-post-tax-profit-doubles-on-tax-free-bt-sport-sale.aspx#:~:text=The%20telecommunications%20provider%20said%20in,03%20billion%20from%20GBP494%20million.
Today Jansen gave a live video addrress (PJ Live) to all employees.
The plan is for a one off (crises of living) payment to all , targeted at the most needy.
No figures mentioned at the moment , but likely to be paid in December.
He described it as class leading in the industry and better then our competitors are offering.
The final proposal will be discussed with CWU over the next 2 weeks.
But from what he is saying , he will go over the Unions head and impose it if necessary
There may be trouble ahead
" Apparently has a war chest to give all the employees a large one off cost of living payment in the Christmas pay packet to ward off any more industrial action."
I have heard the same thing , and apparently the pay out will be funded by a reduction in next years dividend
(Fleecy the talks were not about job reductions , yet again you got it completely wrong)
The Communication Workers Union
BT and Openreach pay update
Dear Member
The overwhelming, strike action that you have taken in your fight for a fair pay rise is making a difference. It has got us back into discussions with BT this week with a view to seeking a resolution to our dispute. We are in the process of setting up further meetings with the company next week.
We have called a meeting of your local branch officials tomorrow (Friday) so we can get their feedback about next steps if our talks fail to meet an acceptable way forward.
We will keep you updated with any progress made and in the event of reaching a proposed way forward, we will put this to you for you to vote via a consultative ballot.
Stay strong and united and together we will win!
Yours sincerely,
Andy Kerr - Deputy General Secretary
Dave Ward - General Secretary
Handman you know absolutley nothing about BT , your ignorance is obvious to any of us that work for BT.
If you approached or tried to enter a BT building , you would be thrown out on your sorry a*se by security
And someone with your outdated , bigoted and confused views , would deffinately not be capable of gaining employment with BT.
Our standards are far to high for the likes of you handman.
(Old Rod is paranoid about the CWU)
Latest from the CWU
Dear Member,
CWU Meeting with BT Shareholders
On 24th October Dave Ward, General Secretary and Andy Kerr Deputy General Secretary T&FS met with BT Shareholders. Dave and Andy were joined by Bill Taylor Head of Research, two BT/Openreach workers and Luke Hildyard, Director of the High Pay Centre – an independent think-tank focussed on pay inequality and corporate governance.
It is the first meeting of this kind and was well attended by major shareholders. The CWU successfully presented the moral argument: BT should be looking after its workers during a cost of living crisis, aside from this it’s the right thing to do for the business, because paying workers fairly helps to ensure a motivated and committed workforce.
The point was robustly made that it would be in the best interest of shareholders for this dispute to be resolved as soon as possible. The BT/Openreach workers explained to the shareholders their view, that senior management’s arrogance, greed and double standards is destroying employee morale as their employer embarks on a relentless “race to the bottom”.
We are hopeful Shareholders will use any influence they have to try to bring BT back to the table for proper negotiations with a view to reaching a fair settlement. We will of course keep you updated of any developments.
Finally, the two days of strike action on the 20th & 24th October were once again hugely successful. With solid support right across the country, you were stronger than ever, well done to you all. The pressure that you have collectively put the company under following eight days of strike action is amazing. The evidence is clear to see in the massive backlogs and work stacks mounting up that will take many weeks to clear.
Stay strong and united and we will win!
Dave Ward, General Secretary
Andy Kerr, Deputy General Secretary (Telecoms & Financial Services)
Get a grip handman , you are a neurotic paranoid wreck
it is unlikely that any of the CWU crew got the posts pulled , because most of the posts were by pro CWU people
It is far more likely that YOU complained to administrator , and you got the posts taken down.
After all you do have previous form in this type of behaviour
Abject performer , dont worry about handman.He is in fact a 13 year old child , that due to his inabilty to integrate into society , has to spends all day in his bedroom , at his mums.
Try and humour him , remember we are his only friends , its all very sad really
From the Financial Times 16 hours ago
What does the bond rout mean for my pension?
Fallout from UK chancellor’s mini-Budget spreads from property to retirement
The Bank of England’s intervention has removed the immediate threat of defined benefit schemes being left unprotected if gilt yields had continued to spiral out of control
The Bank of England’s intervention in the bond markets on Wednesday has headed off an immediate funding crisis for final salary pension schemes, but has focused people’s fears on how the fallout from the government’s mini-Budget could affect their retirement savings.
Why did the BoE intervene to protect final salary pension schemes?
The bank took action because it feared that the very rapid rise in gilt yields — the interest rate paid on government bonds — in the wake of last week’s mini-Budget could badly damage the financial health of thousands of traditional final salary, or defined benefit, pension plans.
These pensions promise to deliver a secure retirement income based on salary and length of service. To protect them from rising inflation and interest rates, pension managers put in place investment strategies known as hedging.
These strategies are very sensitive to movements in gilt yields which, if not carefully managed, can lead to the pension scheme’s promises exceeding the value of its assets. In normal times, when gilt yields rise schemes may need to sell some of their assets, such as equities and bonds, to help keep their hedging strategies balanced.
However, the unprecedented rate and scale of movements in the gilt markets in recent days left managers scrambling to sell assets to ensure their schemes would be protected.
What did the Bank of England do?
The central bank acted to stop gilt markets from spiralling out of control by suspending its programme to sell gilts — which could drive up yields further — and pledging to buy long-dated bonds.
Citing a “material risk to UK financial stability” the BoE pledged to spend £5bn a day for 13 weekdays, a total of £65bn. UK government bond markets recovered in the wake of the announcement.
“The intervention will help stabilise the gilt market by balancing the numbers of buyers and sellers of these assets,” said Simeon Willis, chief investment officer at XPS Pensions Group.
“In general, investment markets operate better when there is stability. This shoul
https://www.ft.com/content/4db2090e-9727-461e-b685-e182cc403a08
https://www.theregister.com/2022/09/27/uk_broadband_consolidation/