BusinessBusiness RecoveryMetronet workers turn on administrators

Metronet workers turn on administrators

Tube employees vote to strike in order to 'defend' jobs as E&Y administrators fail to 'provide guarantees that there will be no job losses'

Administrators from Ernst & Young found themselves under pressure
yesterday as workers at failed tube contractor Metronet voted in favour of
strike action.

According to the FT unions representing 3,000 employees have been
nonplussed by administrators’ failure ‘to provide guarantees that there will be
no job losses or forced transfers’.

E&Y administrators were called into to rescue Metronet last month when
the contractor responsible for upgrading two thirds of the London tube failed to
secure a rescue payment of £551m from the government.

‘Metronet shareholders may be able to walk away from this public-private
partnership fiasco, but it is our members who are been asked to pick up the bill
with lost jobs, transfers and pension cutbacks,’ said Gerry Doherty, general
secretary of the Transport Salaried Staffs’ Association.

Further reading:

Metronet revelations due this week

MPs question firms’ £25m Metronet bill

Balfour Beatty suffers £103m Metronet
write-down

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