PB is doing what he is good at.....the following an extract from the Times in 2003.............
THE stricken Anglo-French industrial giant Alstom is to cut its UK staff from 10,000 to 5,000 and reduce the status of operations here from an exporting base to a “service” centre.
Most of the workers will be transferred to new employers, but about 1,100 jobs will go at Washwood Heath, Alstom’s train factory in Birmingham. Unions said last week that they feared 2,000 British jobs would eventually be lost in the restructuring. As part of a €3.4 billion (£2.4 billion) refinancing package, the French state has taken a one-third stake in the company, and underwritten a bond issue.
Senior executives said yesterday they had received no support from British ministers in their attempts to keep train-building and power-export contracts in Britain. Only last week the company’s plea for a £30m export credit to support a power-station contract in Malaysia was turned down.
Assistance would have brought a £100m contract to the company’s Manchester power operations. “Their letters basically said they would not support us because the market (for credit guarantees) was not that difficult,” said Paul Barron, Alstom’s senior UK executive.
I would have thought if he has got a 9% bonus its money well spent..........saved NATS a fortune on future pensions cost's and saving even more by paying us bugger all of a pay rise.....I guess once he has destroyed NATS as he did to Alstom he will move on to pastures new!!!!
