BT Group PLC (LSE:BT.A) has said it is offering all but its highest-paid staff a pay rise which could bring strike action to an end.
The FTSE 100-listed telco said it is offering a £1,500 pay rise to all staff who earn less than £50,000 a year from 1 January, 2023.
This is a consolidated salary increase and not a one-off payment, BT said, adding that it would be paid to all frontline BT staff, and 51% of managers in the UK.
When added to BT’s earlier pay increase, it means the lowest paid would receive a pay rise of over 15% this year.
BT said that the CWU and Prospect unions will run consultative ballots recommending people vote in favour.
In a statement, BT CEO Philip Jansen said: “This award is based on the principles we have followed throughout this difficult period. It gets help to as many of our colleagues as possible; favours our lower paid colleagues; and gives people the security of a built-in, pensionable increase to their pay.”
“Crucially, it has been worked on in conjunction with the CWU. As I’ve said throughout, whatever our differences, our unions are vital partners," he added.