Big ‘yes’ to Telefonica pay dealTelecoms & Financial Services, Telefonica UK March 12 2018
Members in Telefonica have voted four to one in favour of a CWU-negotiated pay settlement which provides for a 2.5 per cent across-the-board rise that flows through to allowances, including pay and pension protection.
The deal also secures pay progression payments for Technical Specialist, Business Support & Technical Engineering grade employees who are not at the top of their pay spine – apart from those who’ve been performance ranked as ‘under performers’.
Those pay progressions are worth 1.6 per cent for ‘outstanding performers’, 1.3 per cent for ‘high performers’ and 1 per cent for ‘good performers’. ‘Developing performers’ get 0.25 per cent.
This year’s pay talks were conducted against a challenging economic backdrop for Telefonica – with the company citing Brexit uncertainty and associated economic volatility, the impact of the falling exchange rate, increased handset costs and the need to acquire additional spectrum in the forthcoming spectrum auction as limiting factors in this year’s pay round.
Commenting on today’s (March 12) ballot result, assistant secretary Sally Bridge said: “While accepting that the company certainly faces some significant challenges in a fiercely competitive mobile market, the union’s negotiating team was vociferous from the outset that CWU members needed to be properly rewarded for the crucial contribution they make to Telefonica UK’s ongoing success.
“I’m glad that members have overwhelmingly concurred with the negotiating team’s view that Telefonica’s full and final offer of 2.5 per cent strikes the right balance – delivering a pay rise that compares favourably to average settlements.”
Member’s acceptance of the deal means it can now be implemented, on time, in April’s pay packets.