Thursday 8 November 2007

Telent jobs and pensions hang in the balance

The threat that Telent (one of the surviving bits of the old Marconi) might be bought by the Pensions Corporation is a threat to the security of the pensions of many current Telent, Marconi and GEC staff. It's also a threat to the job-security of current Telent staff - does anyone seriously think that a company called the "Pensions Corporation" is interested in running the business, rather than raiding their pensions?

The intervention of the pensions regulator to appoint independent trustees was helpful, and might even be enough to scupper the takeover. However, Telent have appealed against the ruling, as this media report hints.

Let's hope the appeal fails!

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