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01/05/2010 - London Underground fat cats

QUESTION:  How do London Underground bosses work out their salaries?

ANSWER:  They take their favorite high number and quadruple it.  Then they double it and add on a few grand for fun.

SOLIDARITY TRADE UNION isn’t too sure if that’s the exact method, but it sure looks like it to us!  For a recent study found that around 800 Transport for London – TfL - bosses earned between £70,000 and £99,000.

And for those who find that this sort of salary is hard to get by on, there’s more than 200 managers who are earning between £100,000 and £199,999.

These figures are from the financial year 2008-9.  The number of bosses earning these telephone-number salaries is double that prom the previous financial year.

The report also revealed that dozens more Tube bosses receive between £200,000 and £300,000 a year, while two receive more than £400,000 and the highest earner trousers a cool £570,000 a year.

To add insult to injury, more than £1.5 billion was written-off the accounts following the collapse of public-private consortium Metronet.
 
Whilst these poor Tube managers are struggling to get by, spare a thought for London’s 800 front-line station staff who face the dole.

For this is how many jobs will be axed if Transport for London bosses get their way.  It’s thought that TfL need to make up the £1.5 billion hole left by the Metronet fiasco.


As usual, ordinary workers face an uncertain future – whilst the TfL fat cats reward themselves with astronomic pay rises.
 

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