Union angry at Virgin Media over bonuses
Virgin Media, the struggling cable operator, has provoked a furious response from unions by revealing it intends to award its executives bonuses just months after cutting more than 2,000 jobs.
In a US stock exchange filing, the broadband and pay-television group said it had approved plans to award executives who meet qualifying criteria up to 100 per cent of their base salary.
Virgin Media's plans come after it said late last year that it would sack 2,200 jobs – or 15 per cent of its workforce – by 2012 in order to save cash. Grace Mitchell, of the Communication Workers Union, said: "The executives should be taking a lead and looking to forgo these bonuses."
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies