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

Vodafone reinstates bonuses after £4bn profit revealed

by Kat Baker 1 Jun 2009
by Kat Baker 1 Jun 2009

Bonuses for Vodafone employees will be reinstated after angry staff secured a management climbdown.

In March Vodafone’s chief executive Guy Laurence announced that the company’s 10,000 staff would not receive a bonus and salaries would be frozen. But just weeks after the phone company revealed pre-tax profits of £4.1bn, Vodafone will now pay its staff bonuses equal to 2% of their salaries.

In a confidential memo Laurence told staff: “Over the past few months I’ve seen some changes in our company which are really good signs. Having discussed this at length with my management team we feel it is important to recognise the work that went into last year. Therefore we have decided to make a one-off bonus payment of 2% of your average basic salary.”

Laurence told staff the decision to continue offering bonuses was made in light of employees’ efforts to try and help push the company forward during the recession.

“We need to implement a lot of change to turn around our company, and because we see people embracing that, we are giving you a reward that says well done and thank you for the work you did last year” he said.

Vodafone staff will receive their payment in June.

In February the phone company announced 500 redundancies – including HR positions – and a month later employees were told their salaries would be frozen, bonuses scrapped and they would have to keep their company cars for longer.

A Vodafone employee told The Independent: “Staff morale plummeted when management said it was scrapping bonuses in March. Common sense has prevailed because although profits were down they still came in at more than £4bn for the year.”

Avatar
Kat Baker

previous post
Tap into skills surplus to survive recession
next post
E-recruitment: Rethinking recruitment

You may also like

One in five employers planning ‘no jab no...

19 May 2022

BNP Paribas banker accused of ’emotional terrorism’ wins...

19 May 2022

How should HR handle the highest inflation in...

18 May 2022

How to respond to an HMRC furlough enquiry

18 May 2022

AI adoption: Skills shortages means UK lagging behind...

18 May 2022

Nurses leaving due to pressure and workplace culture

18 May 2022

Ethnic diversity: report highlights disparities in school leadership

18 May 2022

Accreditation scheme will ‘encourage LGBT+ people to be...

17 May 2022

Bald move: Tribunal was right in sex-related harassment...

17 May 2022

Number of working people with disability up 1.3...

17 May 2022
  • 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
  • Why now is the time to plug the unhealthy gap PROMOTED | We’ve all heard the term ‘health is wealth’...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+