Tuesday, August 29, 2006

More high earning job losses – this time in S East

Thames Water to cut 25% of jobs

Thames Water is planning to axe up to 25% of its workforce as part of a major efficiency drive that would see 300 jobs go each year until 2010. One just knows that many of the 1500 will already be drowning in debt!

Posted by financial planner @ 05:10 PM (623 views)
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2 thoughts on “More high earning job losses – this time in S East

  • That sounds about right, I mean, it was either that or have to reduce the payments to the ordinary decent hard working shareholders wasn’t it?

    Such has been their total incompetence at running the Company (albeit while still making a huge profit) that the regulator has been threatening to make them actualy repair their own pipes! (Imagine that!) Obviously, in such circumstances loyal employees must be hacked off the wage bill pronto.

    In the words of the CEO of the Water Company that I work for ” we exist to make profit for shareholders”.

    Which explains, I surpose, why we have perhaps over the years become so crap at our secondary ‘reason for existance’ –
    providing a safe and reliable supply of drinking water to the people of the region.

    However, it must be said that ‘secondary’ goals like this are rooted in ‘evil socialism’ and have no place in a ‘modern Britain’
    There can be no return to ‘the bad old days’ when we were State owned and did the job without 37 layers of management and a whole load of dodgy PFI contracts.

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  • Little Ol' Wine Drinker Me says:

    Sorry! Some may have seen this before but I just fancied posting it, just to remind you all of why we are up “Sh*t creek without a paddle”(Pardon the Pun).

    Once upon a time, a British Company and the Japanese decided to have a boat race on the River Thames. The Japanese won by a mile.
    The British firm became very discouraged by the loss and morale sagged, Senior Management decided that the reason for the crushing defeat had to be found, and a project team was set up to investigate the problem and recommend the appropriate action.

    Their conclusion: The Japanese had eight people rowing and one person steering, the British team had one person rowing and eight people steering.
    Senior management immediately hired a consultancy company to do a study of the British team’s structure. Millions of pounds and several months later they concluded that: Too many people were steering and not enough rowing.

    To prevent losing to the Japanese next year, the team’s structure was changed to four steering managers, three senior steering managers, and one executive steering manager. A performance and appraisal system was set up to give the person rowing the boat more incentive to work harder, and become a key performer.

    The next year the Japanese won by two miles. The British company laid off the rower for poor performance, sold off all the oar’s, cancelled all capital investment for new equipment, and halted development of a new boat, awarded high performance awards to the consultants and distributed money saved to senior management.

    Sound familiar?!

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