Former BT CEO Philip Jansen has received his largest pay and bonus package, totaling £3.7 million.
In the same year, he announced plans to slash 55,000 jobs at the telecoms giant by 2030.
The latest annual report from BT revealed Jansen’s reward.
His pay includes a £2.6 million bonus for meeting profit and cash flow targets.
This brings his total earnings at BT over five years to £16.8 million.
Nicknamed “Food Bank Phil” after BT set up a “community pantry” for call center staff struggling financially, Jansen joined BT in 2019 following a lucrative stint at Worldpay.
Despite his efforts to roll out fast fiber broadband, BT’s share price halved during his tenure.
He stepped down from his CEO role in January 2023.
However, he remains with the firm as an advisor until the end of this month.
In May 2023, during the financial year covered by his latest pay award, Jansen announced extensive job cuts.
He said BT would become a “leaner business” by reducing its workforce by up to 55,000 by 2030.
BT: “Philip’s pay last year was not affected by the stated plan to reduce the total number of BT employees over the next seven years”
This figure includes about 10,000 jobs expected to be replaced by artificial intelligence.
Many of these cuts will affect the UK, where BT is headquartered.
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A BT spokesperson said: “Philip’s pay last year was not affected by the stated plan to reduce the total number of BT employees over the next seven years.”
The company employs approximately 130,000 staff globally, with around 80,000 in the UK.
In 2022, the company faced a labor dispute over pay.
This resulted in strikes and the “Food Bank Phil” nickname, linked to claims of a food bank set up at a North Tyneside call center.
In May of the previous year, the company announced its intention to cut its workforce to 75,000 and 90,000 by 2030.
Last month, the company disclosed an additional £3 billion in cost-cutting measures.
It cited huge investment in its UK full-fiber broadband network and increased dividends to investors.
Allison Kirkby, Jansen’s successor as CEO, has pledged to continue his cost-cutting plans and maintain the job reduction target.
