UK: Vodafone re-instates staff bonuses

 

Cellular News is reporting (on a story in The Independent newspaper) that Vodafone (NYSE: VOD) staff in the UK have forced the management in to a volte face (about turn) on the annual bonuses which had been cancelled – apparently they are going to be re-instated! It was March when the cancellation news came originally, but Vodafone managed to push out a £4.1bn profit…! The UK CEO sent a letter to staff (which was seen by The Independent) in which he explains the re-instatement, which will happen later this month apparently.

It’s a tricky thing right now, especially for the larger Telecoms companies – how do we shave costs whilst maintaining profit, yet STILL keep the staff happy too? These economic times can be quite demoralising for people, especially with redundancies happening how they have been – so this move by Vodafone is likely to placate some of the staff at least. The question I am sure on many people’s minds in how long this dip on the economic rollercoaster is going to last, and when we’ll get back to more prosperous time – with bigger bonuses….!

[Via: Cellular News via: The Independent]