Yahoo Finance New BT head offers staff £500 in shares every year
BT staff will receive £500 ($645) in shares every year as part of a new scheme, the company announced on Thursday.
In a press release, BT (BT) described the move as a “major step” for the telecoms giant, “to create a more engaged and energised workforce to drive significant improvements in customer service.” BT is currently in the middle of a three-year restructuring that will cut 13,000 jobs.
Under the new plan, staff will need to hold onto the shares for three years before they can be used. BT estimates that the total cost will amount to approximately £50m per year.
“I’m asking our colleagues for their commitment to making BT a national champion; and I want to give them ownership in our company and a share in our success,” CEO Philip Jansen said.
“Placing customers at the heart of BT will only be possible by investing in the lifeblood of the business, our people, giving everyone a stake as we build a better BT for the future.”
Jansen will outline further changes to the company at an internal meeting on Thursday. He took over as BT CEO in February after running Worldpay since 2013.
BT currently has roughly 100,000 employees.
