May 16, 2019

BT unveils plan to hand staff £50m of shares a year

BT will give each of its workers £500 worth of shares a year as its new chief executive attempts to change the attitude of the telecoms company's 100,000 staff. The new scheme will share £50m of shares between staff each year starting in the summer of 2020. BT's move follows the announcement this week by entrepreneur Julian Richer to hand control of his hi-fi company to staff. Weir Group, the UK engineering company, also gave shares to its 15,000 staff this month. Mr Jansen presented the plan to BT staff on Thursday morning alongside his initial vision for the company, which included measures to improve growth prospects and internal processes.

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