Bt Share Discussion Threads

[spacecake] 28/11/2022 17:28

Quite a deal, but normal service is better than no service.

[ariane] 28/11/2022 16:35

BT strikes pay deal with unions

By Ray Le Maistre

Nov 28, 2022


BT staff have been taking industrial action since the summer over pay deals

Now the UK operator has agreed a new offer with the main unions

Union members will vote in the next few weeks about whether or not to accept the offer

Following five months of strike action, BT has agreed a new pay deal with the two main unions that represent its employees, Communication Workers Union (CWU) and Prospect, which could see an end to the walkouts and give BT staff a salary increase that reflects the current levels of inflation in the UK. 

The ‘Cost of Living Pay Rise’ will, if all goes to plan, be awarded to about 85% of BT employees (effectively, all but the highest-paid staff). The unions are to run consultative ballots and are recommending that members vote in favour of the offer. 

The outcome of the ballots will be announced in mid-December, and in the case of the CWU would bring an end to the current industrial action if members vote in favour of the deal. BT staff have been striking for improved conditions since the summer. 

According to the CWU, the pay offer would reflect an annual pay rise of anything between just below 10% for some staff and anything up to 15% for some of the lower-paid employees. 

The CWO noted in an announcement to its members: “The CWU Executive Committee has agreed to recommend the deal with the strong view that it is the maximum that can be achieved by negotiation leveraged by your industrial action… Make no mistake, your significant sacrifice in taking strike action, making a stand against BT and objecting to their originally imposed pay rise in April ultimately forced BT back around the negotiating table. Without this, there would be no further pay increase. At best some people on lower pay may have received an imposed one-off cost-of-living payment in December. The case was made, and won, for a consolidated pay rise; consolidation being hugely important as it means it is paid again and again, unlike a one-off payment which does not increase your actual pay.”

BT CEO Philip Jansen, who previously had not been receptive to union calls for improved pay deals, is now keen to start a new chapter in industrial relations, it seems. “This award is based on the principles we have followed throughout this difficult period. It gets help to as many of our colleagues as possible; favours our lower paid colleagues; and gives people the security of a built-in, pensionable increase to their pay,” he noted. “Crucially, it has been worked on in conjunction with the CWU. As I’ve said throughout, whatever our differences, our unions are vital partners. We will now build on this collaboration: We have agreed with both our union partners that we will all lean into the opportunities and challenges the future will bring, specifically our transformation plans and the delivery of the £3bn cost savings by the end of FY25. Ultimately, we all want BT Group to be successful so that we can do the best by our people and customers for years to come.” 

Let’s hope for everyone’s sakes that the offer makes sense for BT’s employees and operators and that all involved can have a merry Christmas.

News of the pay deal comes only weeks after Jansen announced that the operator was looking to increase its cost savings target from £2.5bn to £3bn by the end of fiscal year 2025. 

- Ray Le Maistre, Editorial Director, TelecomTV

[smurfy2001] 28/11/2022 15:15

BT strikes set to end after staff offered extra £1,500 pay rise

https://www.ft.com/content/7b5cd597-ed59-4d2b-867c-875763c051e0

[halfpound] 28/11/2022 12:03

talksense 28 Nov '22 - 09:46 - 44149 of 44151 (Filtered)
talksense 28 Nov '22 - 09:50 - 44150 of 44151 (Filtered)

[talksense] 28/11/2022 09:50

it seems their are different types on this board.

[1] Intelligent unbiased comment
[2] Those with shares that try to see positive news
[3] Those who post nonsense and try to bait others
[4] The pension fund scaremongers closely in league with [3]

The only comments worth reading are [1] I block everyone lese but that doesn't stop the free brigade creating accounts for one off baiters.

Shame his isn't better moderated

[yeah man] 28/11/2022 08:42

Yeah Baby, can see 89p all day long here.

[steven1404] 27/11/2022 15:57

Hopefully something will be posted on workplace soon it will be handy for staff over xmas but this should off been sorted out long before now

[wendsworth] 27/11/2022 14:43

babyal: Coincidentally had my landline /wi-fi upgraded by a BT engineer last Wednesday and he reflected a similar view i.e. that a settlement was imminent.

[maywillow] 27/11/2022 07:25

Https://www.thisismoney.co.uk/money/markets/article-11472007/BT-Vodafone-hit-rising-costs-debt.html

BT and Vodafone are hit by rising costs and debt: £10bn wiped off telecoms giants as investors rattled

By Francesca Washtell, Financial Mail On Sunday

Published: 21:51 GMT, 26 November 2022 | Updated: 21:51 GMT, 26 November 2022


Almost £10billion has been wiped off the value of BT and Vodafone as soaring costs and debt rattled investors. 

Analysts are becoming increasingly sceptical about Britain's two biggest telecoms companies after they reported lacklustre results this month. The pair are sitting on a £65billion debt pile – almost twice their combined value. 

Investment bank Credit Suisse last week downgraded its rating on Vodafone. Activist investor Cevian Capital appears to be giving up on hopes the group can hasten its turnaround efforts – recently slashing its stake in the mobile giant. 

[babyal] 27/11/2022 07:10

They need to hurry up as it's almost time to start negotiating for next years pay deal.

[steven1404] 26/11/2022 19:36

They are allegedly having a meeting in London on Monday so hopefully will be sorted soon prob a cost of living payment

[babyal] 26/11/2022 17:45

Sorry no link....it was an email direct from the CWU....very positive an agreement is coming soon.

[stansmith1] 25/11/2022 20:21

any link for that?thanks

[babyal] 25/11/2022 18:49

Union said today they are confident a settlement has been reached and will be putting it to the members when that happens.

[backdoor grim] 25/11/2022 16:21

My next purchace is 90p

The Colonel

[wendsworth] 25/11/2022 15:53

diku:BT won't.My first purchase was at 101.65...so remember it well.

[diku] 25/11/2022 15:28

Just hope BT don't do VOD mark 2 like revisit 2020 lows...that was around 100p...

[wendsworth] 25/11/2022 15:17

Heading for the third consecutive week of a rise in the share price

[backdoor grim] 25/11/2022 13:40

There ya go, wont be long now for my 90p.

The Colonel

[edmondj] 25/11/2022 10:40

Yes, new FTTP contracts are being ditched.

My upgrade now has no target date, am being retained on the previous superfast one.

If only it were possible to walk away from contracts, when it suits, as easily as BT does.

[backdoor grim] 25/11/2022 09:38

Post pay not looking good, 90p on the cards.


Hope that helps

Cheers Colonelgrim

[wendsworth] 24/11/2022 15:51

Post pay settlement share price will be GRIM for shorters. UP, UP & AWAY !!! 150p by 31/12?

[rathkum] 24/11/2022 14:19

BT Group still a 'buy' for Jefferies, with report Openreach cutbacks hitting fibre expansion 'misleading'

Jefferies has a 250p share price target on BT Group, with the stock currently trading at 125.45p



BT Group PLC (LSE:BT.A) is still a 'buy' for analysts at Jefferies who think that this morning's headline in the Financial Times (FT) that Openreach cutbacks are hitting the company's FTTP (Fibre To The Premises) expansion "is misleading".

The Jefferies' analysts noted that the FT suggests that Openreach is seeking to limit its investment in the FTTP roll-out. Specifically, it said Openreach has informed contractors that it will focus investment on completing roll-outs at partially-covered locations and will postpone roll-outs in new locations. Current FTTP coverage is 9mln premises and there is an additional 6mln backlog that is partially completed.

They said Openreach CEO Clive Selley is quoted as saying that what will be suspended is work on surveys and estimates for future work beyond this 15mln footprint, but he asserts that Openreach remains committed to the target of covering 25mln premises by December 2026.

At the half-year, BT guided that FTTP capex will be focused on provisioning customers onto the network. The company's management indicated that the FTTP footprint should increase by around 3.2mln premises in full-year 2023 (FY23) against a prior target of around 3.5mln, which would allow more resources to be directed at provisioning.

The analysts noted that BT disclosed that new FTTP orders came in at the rate of 44,000 per week during 2Q FY23, but that Openreach was only able to connect 25,000 per week. BT also asserted that FTTP coverage costs remain at the lower end of its target £250-£350 per premise range, in line with previous periods, with build rate still guided to accelerate, with the near-term focus on unwinding backlog.

They said: "Our impression from talking with BT is that a build rate of c.3.5mln premises is anticipated for FY24. This would take total coverage to c.14mln premises. To bridge from there to the 25mln target in Dec 2026, Openreach would need to accelerate build rate to c.4mln premises pa. This is the level it has previously described as peak run-rate."

The analysts said the question is how to square BT’s guidance of accelerating build rate with lower group capex from FY24. At the half year, BT raised group capex guidance for FY23 to £5.0bn from £4.8bn, arguing that a tax refund is being reinvested in FTTP.

The Jefferies analysts said: "We understand that the backlog of part-complete FTTP coverage has built up substantially as a result of this investment. From FY24, BT is guiding that group capex will revert to £4.8bn pa, but that FTTP capex will not be declining.

"To square this circle, BT argues that capex focused on Huawei swap out should cease from FY24 (c.£150mln y/y saving) and copper legacy capex is now falling at an accelerating rate (-26% y/y in 1H FY23, on a base of c. £500mln in FY22). On top of that, Openreach’s new FTTP coverage of c.3.5mln premises in FY24 should be heavily focused existing backlog."

The analysts concluded: "The capex question may be more pertinent in FY25, by which time today’s backlog will be largely connected, and FTTP build will be more focused on new footprint. We will be looking for BT to explain what other legacy items might be dropping out of the capex perimeter by FY25."

Jefferies has a 250p share price target on BT Group, with the stock currently trading at 125.45p.