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Unions warn FirstGroup's disastrous finances are not an excuse to attack working conditions
(Left to right) Former FirstGroup chief executive Tim O'Toole, Transport Secretary Chris Grayling and South Western Railway managing director Andy Mellors at Waterloo station in central London
FIRSTGROUP’S disastrous financial results must not be used as an excuse to asset-strip and attack working conditions, unions warned today.
The train and coach operator, which runs the Great Western, South Western and TransPennine rail franchises, as well as the Greyhound bus company in the United States, announced a £326 million loss, prompting the resignation of chief executive Tim O’Toole.
Ominously, finance chief Matthew Gregory said that “all options are on the table,” adding: “Our obligation is to maximise value for shareholders.”
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