Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsBonusesPay & benefits

Marconi chief executive to receive £1.9m bonus

by dan thomas 18 May 2005
by dan thomas 18 May 2005

The chief executive of Marconi is due to receive a £1.9m bonus this summer, just weeks after the struggling telecoms company cut 800 jobs.

Mike Parton will receive the bonus for pushing the value of Marconi to more than £1bn at the end of 2003, even though its shares have since fallen to around half that value and the future of the company is now in doubt.

He is in line for the payment because the company’s value on the stock market exceeded £1bn for 90 days. Last month, however, the company’s share price halved as Marconi failed to secure a crucial contract with BT.

Marconi’s failure to be chosen as a supplier for BT’s new £10bn network cost 800 jobs in the UK and forced the company to put itself up for sale. It is currently valued at £570m.

A spokesman for Amicus told the Guardian: “This would be a slap in the face for Marconi employees when 800 of them face redundancy and the remainder an uncertain future.”

He said taking the bonus “would represent the unacceptable face of corporate Britain, with wealth and opportunity for the few at the expense of a skilled and committed workforce”.

Parton refused to say whether he will turn down the reward.

Avatar
dan thomas

previous post
Unions welcome legislation proposals
next post
Two new benefits to replace Incapacity Benefit

You may also like

Davos 2022: ‘Invest in social jobs to save...

27 May 2022

P&O Ferries boss denies reputational damage after mass...

27 May 2022

Why Can’t Managers Manage? Chris Roebuck talks to...

27 May 2022

Parliament launches UK labour market inquiry

27 May 2022

Menopausal worker loses sex and disability discrimination claim

27 May 2022

Employers must help employees ‘flourish’ post-pandemic

27 May 2022

Age remains a barrier to upskilling finds research

27 May 2022

‘Inequality is embedded in our labour market’ says...

27 May 2022

More than £1bn of upskilling loan money has...

26 May 2022

Monkeypox advice for employers: working from home and...

26 May 2022
  • Strathclyde Business School expands its Degree Apprenticeship offer in England PROMOTED | The University of Strathclyde is expanding its programmes...Read more
  • The Search for Talent: Six Major Employer Pitfalls PROMOTED | The Great Resignation continues unabated...Read more
  • Navigating the widening “Skills Confidence Gap” in 2022, and beyond PROMOTED | Cornerstone OnDemand conducted a global study...Read more
  • Apprenticeships are the solution to your recruitment problems PROMOTED | Apprenticeships have the pulling power...Read more
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+