Capitalist leech ‘foodbank Phil’ strikes again – siphoning off profits from workers his former company is set to supremely screw over. That is, ex-BT boss Philip Jansen has just pocketed a £3.7m payout. Amid this, the company plans to cut 55,000 jobs by 2030 – replacing some of them with AI. However, maybe its time parasitic CEOs were the ones being replaced by ChatGPT?
Ex-BT boss Philip Jansen’s multimillion payout
As the Guardian reported:
BT’s former chief executive Philip Jansen has been awarded his largest pay and bonus package, a £3.7m reward for the same year in which he announced plans to cut 55,000 jobs at the telecoms company by 2030.
Moreover, it detailed that:
The sum includes a £2.6m bonus for hitting targets linked to profit and cashflow, taking Jansen’s total earnings over five years at the company to £16.8m.
Jansen left the post at the UK telecoms provider in January, but stayed on as an advisor until the end of June. In 2023, amidst his announcement to step down, the company had declared its plans to axe 55,000 jobs. As Tribune journalist Taj Ali pointed out, this means the company would effectively lay off 40% of its current workforce:
Telecoms giant BT is to cut up to 55,000 jobs by the end of the decade as it seeks to cut costs.
The headcount reduction, which will be up to 40% of employees, is out of a current workforce of 130,000.
— Taj Ali (@Taj_Ali1) May 18, 2023
Significantly, Jansen revealed the company’s plans to replace up to a fifth of these with AI.
Unsurprisingly then, it’s also not Jansen’s first rodeo shitting on employees either.
In 2022, striking workers notoriously named him ‘foodbank Phil’. As the Big Issue reported at the time, this was in response to BT setting up a so-called ‘community pantry’ for struggling staff. More specifically, workers were raising their anger over Jansen’s £3.5m pay package – a 32% wage increase – while it lumped staff with a “dramatic real-terms pay cut”.
It appears he’s at his old tricks again – this time, with an even larger paycheck as he cut and runs.
Workers are “disposable” as BT boss rakes it in
His parasitic profiteering off the backs of his workers didn’t go amiss with people on X:
Ex-BT boss pockets £3.7m final pay deal, group to axe 55,000 jobs.
Workers generate profits with their brains/brawn but are disposable, Execs, shareholders walk away with rewards.
Put workers on boards of large companies, let them vote on exec pay.https://t.co/WG6rkJmZED
— Prem Sikka (@premnsikka) June 7, 2024
If you are wondering what is wrong with economies across the globe here is a hint: Make 55,000 people unemployed and get a $6m reward. Brilliant. https://t.co/lqiPlmtXtE
— kevin cousins (@CousinsKevin100) June 6, 2024
What’s more, one poster highlighted it’s yet another case of a boss raking it in, while his company screws over the public as well:
BT – that company that puts money in shareholders pockets rather than up grade their network to bring fast broadband to rural communities;
the company that charges £40/month for broadband speed of 4mbs……….yes, 4mbs. https://t.co/jTApSY2TWO— Green Socialists (@GreenSocialists) June 7, 2024
Some noted that it’s about what you’d expect, given it’s corporate capitalism writ large:
The unacceptable face of Capitalism Again! Ex-BT boss pockets £3.7m final pay deal as group plans to axe 55,000 jobs – Philip Jansen announced sweeping job cuts during same financial year covered by pay and bonus package https://t.co/JC9JiFxrFP
— Mary Kapadia (@MaryKapadia) June 7, 2024
Neoliberalism in a nutshell https://t.co/XxQSBJ2e7I
— hmmbwav 💙🇵🇸🇸🇾 (@hmmbwav) June 7, 2024
The age of “necrotic capitalism”
Of course, as one poster reminded people, such is life under the sleazy corporate-captured Tory government:
This is a good description of the UK. People are being put out of a job so make 1 rich person richer. People voted for this 😎🚔 https://t.co/BrFAldi4HU
— Jas K (McDonnell) 🇮🇪🇵🇸 (@chesterkopagain) June 7, 2024
Now, the capitalist stooges running the two main parties are staying noticeably quiet about bosses rolling in riches during this election campaign:
Necrotic capitalism and no real discussion about it in the GE. We are so boned. https://t.co/oZsXMPm8rz
— Park Media & Film (@parkmediandfilm) June 7, 2024
For its two cents, or its £20.8bn revenues, BT is hedging its bets and hasn’t thrown its weight behind either party for the upcoming election. Purportedly, according to the Financial Times, BT is choosing to stick to policies of political neutrality.
What, just like it did in 2019 when the company called out Labour’s nationalisation plans? But then, this time there’s a conspicuous absence of free broadband or nationalisation from Starmer’s election campaign. Of course, broadband ‘communism’ is so last election.
Get rid of the profiteering bosses, not the workers
Ultimately, for BT workers Jansen has repeatedly shafted, it’s “good riddance – don’t let the door hit you on the way out”. But as ever, for corporate capitalist CEOs, the only thing that hits, is a bucket-load of cash straight to their bank accounts.
Here’s an idea, why not give Jansen’s BT job to ChatGPT instead? No million pound payouts, will act a lot more sentient, and it’d do a damn sight more work than the big telecoms boss ever did.
Feature image via TelecomTv – Youtube
