BT Group Announcement

[idpickering]

BT TO CLOSE DEFINED BENEFIT PENSION SCHEME FOR 10,000 MANAGERS

Following BT's consultation on the defined benefit BT Pension Scheme (BTPS) and the defined contribution BT Retirement Saving Scheme (BTRSS), which finished on 17 January, a number of changes have been confirmed.

Full item here;

https://www.investegate.co.uk/bt-group- ... 30019470D/

[Dod101]

10,000 managers! I am amazed that the DB Scheme was not closed long ago.

Dod

[idpickering]

10,000 managers! I am amazed that the DB Scheme was not closed long ago.

Dod

That's a lot of pen pushers isn't it?! Think of all the time wasted in all those meetings, patting each other on the back.

Ian.

[Arborbridge]

BTPS - a defined benefit scheme

- c.30,000 employees are active members in the BTPS (and decreasing)

- c.10,000 managers and c.20,000 team members

- The scheme was closed to new joiners in 2001

I thought the "(and decreasing)" was an interesting reminder that this problem is not going to be for ever!

I note the scheme was closed in 2001. My own company had the forsight to close its own DB scheme almost a decade earlier, but then we didn't have unions to reckon with., but employees who realised it was "curtains" for their livelihoods unless we changed the scheme.

I reckon almost everyone is called a manager, even if they only have one person to "manage".

[idpickering]

I reckon almost everyone is called a manager, even if they only have one person to "manage".

Patting themselves on the back.

Ian.

[Arborbridge]

I reckon almost everyone is called a manager, even if they only have one person to "manage".

Patting themselves on the back.

Ian.

It's the modern way. Everyone wants a better sounding job title, although in BTs case it might be a disadvantage to make the jump from ordinary employee to manager. I think there may be downsides to it, and note it is often "middle managers" who are the first to go in rounds of redundancy. These are the easiest to cull, whereas those physically "on the job" with technical knowhow tend to be required to keep the show on the road.

I'm very pleased to hear that much of BTs helpline has been brought back on shore - I think about 80% of it. I spoke to them a week or two ago, and thank goodness there was a delightful Doncaster accent and I could understand every word and furthermore she understood what I wanted!

[eyeball08]

"I reckon almost everyone is called a manager, even if they only have one person to manage."

A bit like all the bbc reporters apparently now being "editors" ?

[Arborbridge]

"I reckon almost everyone is called a manager, even if they only have one person to manage."

A bit like all the bbc reporters apparently now being "editors" ?

I don't know if that's true or not - I'll have to listen out - but I know there are various grades with different names. It wouldn't surprise me if an "editor"used to stand between the reporter and the the final version, but that layer has been abolished. Now, the person at the sharp end is probably responsible for everything - such is the race to cut costs.

Frankly, I deplore this tendency to attack some of our great institutions or companies for the sake of it. We are so stupid to attack our own and allow the USA corporations to walk all over us - all sacrificed on the god of competition, which is in fact no more than the Philistine bean counters reducing us to a country without values. It's a race to the bottom which will destroy some of the best things in our lives.

End of rant (for now).

Arb.

[monabri]

A week or so ago my wife got a letter ( a £5 voucher) from the CEO Tesco UK...Matt Davies. I don't hold TSCO shares but I thought, that's not the CEO of Tesco ( Dave Lewis). Seems that Mr Lewis is the "big" CEO and Mr Davies IS the CEO Tesco UK. Job inflation? How many CEOs does a company need?

Meanwhile, today I received 12 (twelve) identical, separate letters from the Halifax reminding me that the house insurance is due. No wonder RMG is doing ok!

[Gengulphus]

A week or so ago my wife got a letter ( a £5 voucher) from the CEO Tesco UK...Matt Davies. I don't hold TSCO shares but I thought, that's not the CEO of Tesco ( Dave Lewis). Seems that Mr Lewis is the "big" CEO and Mr Davies IS the CEO Tesco UK. Job inflation? How many CEOs does a company need?

One, and most companies have just one - and Tesco is probably no exception.

The resolution of that apparent contradiction is that every company (with the possible exception of totally inactive ones - I don't remember for certain) needs directors to be officially in charge of it, and each subsidiary of a company is itself a separate company. A big company like Tesco often has quite a lot of subsidiaries (and quite a lot of smaller companies do too), so there are lots of directorships going - and CEO is the conventional term for the one with the overall responsibility for the company. So there are lots of CEO positions available!

To offset that, especially with subsidiaries of a small company, the same person is likely to be CEO of multiple companies. For big companies with big subsidiaries, though, having overall responsibility for multiple big companies is liable to be too big a job for one person!

Gengulphus

[ayshfm1]

Management in BT - Management Grade. In other words the bulk of that lot are not managers at all. It's all about how much BT has to pay them.