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Fat cat bosses in companies facing strikes earn up to 86 times the average wage for workers

While Boris Johnson brags about wanting a high-wage society, the Prime Minister insisted that demanding pay rises to make ends meet would further increase inflation

Network Rail Chief Executive Andrew Haines was paid £593,000 last year - about 18 times what the RMT says its average members are paid
Network Rail Chief Executive Andrew Haines was paid £593,000 last year – about 18 times what the RMT says its average members are paid

As millions of workers grapple with the cost of living crisis, Britain’s fatcat bosses have never had it so good.

Top executives at companies facing labor disputes are taking up to 86 times the average salary of some employees.

But while Boris Johnson brags about wanting a high-wage society, the Prime Minister yesterday insisted staff demanding pay rises to make ends meet would increase inflation, which hit a 40-year high of 9.1% yesterday reached.

Andrew Speke of the High Pay Center think-tank said: “People across the board can see the cost of living rising, while those at the top are still doing very well.”

We revealed yesterday how Network Rail boss Andrew Haines is raking in almost 20 times the salary of striking train guard David King.






Matthew Gregory – Chief Executive of FirstGroup received £840,000 in salaries and benefits last year – about 25 times what the RMT says his average members receive

His salary of £593,000 plus £3,000 in perks dwarfs the £30,000 David has earned.

And as train crews prepare for the second of three nationwide strikes, we can lay bare the yawning pay gap between other bosses and workers, who have had average pay rises of 4.2%.

BT Group chief executive Philip Jansen was paid 86 times the average BT worker and 97 times the lower-paid staff last year.






Simon Thompson – Chief Executive of Royal Mail – took in £753,000 in salaries and benefits last year – 23 times what the average employee earned

The company faces its first nationwide strike in 35 years.

At Royal Mail, 115,000 workers are elected to strike over wages. Boss Simon Thompson got 23 times more than the average postman.

British Airways Chief Executive Sean Doyle earned 38 times more than his cabin crew.

Workers are voting on industrial action and the outcome should be announced this week.







Sean Doyle – chief executive of BA – was paid £848,200 in salaries and perks last year – about 38 times the average cabin crew of £20,000-22,000 a year
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Picture:

via REUTERS)

Matthew Gregory, chief executive of FirstGroup, whose company operates trains like Avanti West Coast, earns about 25 times what the RMT claims average members earn.

Stagecoach Group boss Martin Griffiths is making 32 times more than his workers, some of whom are expected to go on strike next week.






Inflation shows no signs of slowing down

A report by the High Pay Center last month found that the pay gap between top bosses and workers had skyrocketed as the country emerged from Covid.

Out of 69 large companies that reported data in the first three months of this year, executives earned 63 times more than their employees.






Philip Jansen – CEO of BT took in £3.5m in wages and benefits last year – 86 times the average BT worker, 97 times less paid staff

That compares to 34 times in the early part of last year.

But stubborn Mr Johnson yesterday kept wages on the heels despite soaring salaries for company bosses and skyrocketing food and fuel costs.

He suggested that the wages of 5.5 million public sector workers would rise by less than inflation.






The price pressure for the cost of living is intensifying

The Prime Minister’s spokesman said a larger increase would “chase inflation with wages, pushing inflation further up and making the increase worthless”.

But experts say most of today’s sky-high cost of living is due to a global surge in energy, oil and other commodities.







Jes Staley, CEO of Barclays, pictured arriving at 10 Downing Street
(

Picture:

REUTERS)

TUC General Secretary Frances O’Grady said: “Inflation is not being driven by nurses who want enough wages to buy groceries.”

Ahead of the second rail strike yesterday, RMT chief Mick Lynch accused Grant Shapps of “destroying” talks to end the dispute. The transport minister insisted this was “a lie”.

Union leader Keir Starmer has blasted Mr Johnson for not “lifting a finger” to stop the strikes despite finding time this week to attend a lavish Tory fundraiser dinner.

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https://www.mirror.co.uk/news/uk-news/fat-cat-bosses-firms-facing-27305684 Fat cat bosses in companies facing strikes earn up to 86 times the average wage for workers

Fry Electronics Team

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