Thames water has announced up to 140 redundancies this morning [Thursday].
In a meeting with GMB, the company said it would begin consulting on plans to cut 89 retail jobs and 39 digital jobs.
Thames Water currently faces debts of up to £14 billion
Gary Carter GMB National Officer, said
“Thames Water has danced with the devil and now workers are paying the price.
“In the 40 years since privatisation, we’ve seen virtually no investment, systematic asset stripping and billions of public money drained from the system to fill already bulging shareholder and fat cat coffers.
“As a result, Thames is on it’s knees and water workers are losing their livelihoods.
“It’s abhorrent and systematic of the failed experiment that is water privatisation.
“GMB will fight to minimise any compulsory redundancies and make sure our members get every penny they are due.”