Transport for London (TfL) says that one reason that it needs to remove nearly 1,000 London Underground station staff is that it has to save money. Perhaps there are other sources of savings ...

TfL pays 328 people more than £100,000 in 2012/13, 33 of them more than £200,000.

High earners include:
Peter Hendy, Commissioner, £652,452
Andrew Wolstenholme, Chief Executive, Crossrail, £567,828
Andy Mitchell, Programme Director, Crossrail, £552,405
Mike Brown, Managing Director, Rail and Underground, £475,651

If TfL introduced a maximum wage of £100,000, it would save around £14 million per year, nearly one-third of the £50m annual savings that would be achieved by cutting our members’ jobs.

(Annual Report and Accounts 2012/13, section 5, Remuneration. Figures are published in bands of £5,000. Using the midpoint figure for each band, the total saving would be £13,920,000.)

=====

In 2012/13, 200 people left TfL through voluntary severance (199) or compulsory redundancy (1).

TfL paid them a total of £12,700,000 to leave.
TfL paid 40 of them more than £100,000 each to leave.
Former Chief Finance Officer Stephen Critchley was paid £268,494 in ‘compensation for loss of employment’.

Perhaps TfL should spend its money paying people to work on London’s transport, rather than paying them to leave!

=====