Now Michael Portillo calls time for WMT
21st December 1989, Page 16
21st December 1989
Page 16
Page 16, 21st December 1989
— Now Michael Portillo calls time for WMT
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Keywords :
Cedar Rapids, Iowa, Cooperatives, Economic Theories, Types Of Companies, Employee Ownership, Wmt, Michael Portillo, Portillo, Employment, Labor
• I hscussions between trade unions, the Passenger Transport Authority and West Midland Transport are being held over the possible break up of WMT.
The undertaking, which owns 1,650 buses and employs some 6,000 staff, has been told by transport minister Michael Portillo that it has till the end of January to prepare a plan for its sale as a single-entity. WMT has fought a determined battle to avoid the threat of being broken up and the most likely sale could be an employee share plan.
Legislation on employee share ownership (ESOP) schemes has come in for criticism by the independent watchdog, the Industrial Society.
It says that the law can, sometimes, restrict employee participation.