JT executives to share £340,000 loyalty bonuses

TOP executives at Jersey Telecom will get paid a total of £340,000 in loyalty bonuses later this year.

The cash will go to seven directors of the States-owned utility company at the end of October. It is not known exactly how it will be shared out.

Retired finance director Philip Ainsworth has already been paid £59,000 from the senior management retention pot. The other recipients are group chief executive Bob Lawrence, operations director Steve Haigh, technology and planning director Jerry Rabaste, Channel Islands division managing director Tim Ringsdore, human resources director Janine Ward and associate director of corporate affairs Daragh McDermott.

Chairman John Henwood said that the payments were essential to keep the best managers at JT in the face of unprecedented competition, and that they had proved to be very successful in achieving that aim.

However, the news has not gone down well with some staff members, especially as it is understood that some JT employees did not receive a salary increase this year. (from JEP)

The rich get richer....