Tube staff win Olympic bonus of up to £1,000 May 29, 2012 LONDON Underground has dipped into its coffers to avert strike action on the Tube during the Olympic Games. After months of wrangling, the RMT union said yesterday it has agreed a deal with LU that offers staff up to £850 and drivers as much as £1,000 in extra payments for working during the Games. On [...]
Serco starts the year with £4bn contracts win May 14, 2012 OUTSOURCING firm Serco has won nearly £4bn of contracts so far this year, but said yesterday its revenues from the Americas had slumped. The FTSE 100-listed group, which runs services from the Docklands Light Railway to prisons and air traffic control centres around the world, said it expected first-half revenue to grow by around six [...]
Tube workers to reject Games offer March 18, 2012 TUBE workers are set to reject yet another Olympics bonus offer this week, leaving transport bosses scrambling to avoid strikes during the Games, which are now just over four months away. Almost 150 reps for the RMT will today call on the union to turn down the latest £850 overtime and bonus package. The reps [...]
Serco profits rise as Asia drives growth February 28, 2012 OUTSOURCING firm Serco will target further expansion in fast-growing markets in Australasia and the Middle East in 2012, after the regions helped it ride out tougher times in its core UK and US markets. FTSE 100-listed Serco, which runs services from the Docklands Light Railway to prisons and air traffic control centres around the world, [...]
DLR workers in line for £2,500 Olympic bonus January 26, 2012 WORKERS on the Docklands Light Railway will get a bonus plus overtime payments of up to £2,500 for turning up to work during the Olympic and Paralympic Games. Transport union RMT said the deal “raises the bar” for others in the transport sector working over the Olympics.
The man behind London’s new bullet trains is making sure the 2012 Games run on time July 31, 2011 AS YOU travel to work, did you notice how roomy Stratford station is looking? Or that certain trains seem longer than before? Or, if you use the Jubilee Line, that more trains are running every hour? It’s all part of the way in which London’s transport system is being steadily geared up ahead of next [...]
Serco aims for revenues of £5bn next year despite UK uncertainty June 28, 2011 OUTSOURCING group Serco expects its revenues to hit £5bn by the end of 2012, it said in a pre-close statement yesterday. The firm, which operates immigration centres, health services and the Docklands Light Railway, said it expects good organic growth through the year, giving an adjusted operating profit margin of 6.3 per cent. But the [...]
The insurance man turns to banking March 30, 2011 AFTER nine years at the helm of London’s insurance market Lloyd’s, its chairman Lord Levene is singularly unshockable even in the face of disasters on the unprecedented scale that struck Japan. The earthquake and tsunami which hit the northeastern coast of Japan on 10 March will cost insurers $20bn-30bn (£12.5bn-18.8bn), but Levene doesn’t think the [...]
Serco insists it will grow despite cuts March 2, 2011 OUTSOURCING group Serco posted a 21 per cent rise in full-year profit yesterday, helped by strong revenue growth in the Americas, as the firm insisted that UK government spending cuts will not damage the firm. Chief executive Chris Hyman told analysts yesterday that “if we’ve got the skills and capabilities, we will see the growth” [...]
RMT sets DLR strike dates January 13, 2011 TRANSPORT union RMT yesterday announced 48 hours of strike action on the Docklands Light Railway between 03.59 hours next Thursday 20 January 2011 and 03.58 hours on Saturday 22 January 2011 in a dispute with Serco Docklands. RMT blamed a “breakdown” in industrial relations for the move. The planned strike comes after the government warned [...]