News - BT issues profit warning, exec walks

[HEXUS]

BT has announced that quarterly earnings will be down and it?s all the fault of its Global Services division.

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[3dcandy]

I'm in the wrong job...erm actually I have no job!

[zodiacman]

Shares have been hammered,just like my HBOS ones

[Breezey]

Well if BT provided a half decent service they might keep they might actually keep thier customers. They have themselves to blaim i mean £150 call out for something that wasnt myfault and that couldnt be avoided.

[Rosaline]

Surely execs the world over will strive to raise their game now that they know failure to do so might result in a 12 month holiday on full pay.

"Gardening leave" is a standard feature for higher level positions within business. Although it certainly sounds wasteful, there is a very good reason for issuing it. By delaying when an executive or manager can start working for a competitor, it allows a company to move ahead and render any knowledge that professional may have had obsolete, and so prevent their plans from being compromised.

[G4Z]

Well, I have just been 'binned' from my sales job in Global Services as part of the restructuring. The funny thing is, this year GS spend £16m on a sales conference in vegas for 3,000 sales people, it sounded like a stupid waste of money at the time and even more so now. IMO if Francois walks he should do so with the same conditions they offer ordinary staff in light of this poor performance.

[Scott B]

"Gardening leave" is a standard feature for higher level positions within business.

Thanks Rosaline - I've no doubt it's standard practice but should it be? Something tells me that 3 months rather than a year would have been sufficient time to protect BT from the threat of this superlative exec resurfacing at a competitor.