Stagecoach’s regional bus division makes £58 million last year while workers struggle with cost-of-living crisis
The boss of Stagecoach trousered a package worth more than £1.7 million while desperate bus drivers are forced to strike to make ends meet today [31 October], says GMB Union.
Total remuneration including pension contributions for the highest paid director in Stagecoach Group - Chief Executive Martin Griffiths - was worth £1,751,000 in the financial year ending 30 April 2022, an increase of 92.4 per cent on the year before.
Meanwhile Stagecoach's regional bus services made an operating profit of £58 million in the financial year 2021/22 - more than double the year before.
The way that Stagecoach North East's reporting through Busways Travel Services Limited is structured obscures the salary of director Steve Walker.
Sunderland bus drivers are on strike in anger at a massive real terms pay cut of just 4 per cent, with 2 per cent to follow later in the year.
Stuart Gilhespy, GMB Organiser, said:
“The boss of Stagecoach is trousering almost £2million while Sunderland’s bus drivers are so desperate they are taking industrial action to try and make ends meet. It’s disgusting.
“Stagecoach North East claim they haven't got the money to pay workers properly – but the regional bus division made a tidy £58 million last year so that’s clearly nonsense.
“Meanwhile they don’t even declare what Steve Walker’s on.
“Instead of attacking our hard-up members, why won’t Stagecoach get round the table with GMB and make and offer our members can live on?”