London Underground has made a multi-year pay offer to trade unions which would see staff get a 4% pay rise in the first year followed by a rise of inflation plus 0.25% in subsequent years.
The ‘fair and affordable’ five-year offer was made to all trade unions at a meeting of London Underground’s Company Council yesterday.
In addition to the pay offer, LU has also committed to examining further issues raised by the unions, including working on statutory public holidays and the company’s family-friendly policies which aim to make working for LU easier for parents and carers.
Howard Collins, LU Chief Operating Officer, said:
“We’ve today made what we believe is a very fair and affordable multi-year pay offer to the trade unions, which will see staff gain real-terms pay increases and stability over the coming years.
“We have asked the unions to respond to our offer by 28 April and we look forward to working with the unions to reach an agreement as soon as possible.”
The proposed deal would cover the period from April 2011 to April 2016, which also includes the London 2012 Games. The previous agreed pay deal, which saw staff get a 1.5% increase in year one and RPI+0.5% in year two, expires this month.