| Tata 15:48 - Jan 17 with 36947 views | raynor94 |
Looks like up to 800 job losses to be announced, 600 at Port Talbot, a devastating blow for the area, let's just hope Tata keep the faith and see these rough times through |  |
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| Tata on 20:15 - Apr 1 with 1906 views | max936 |
| Tata on 19:45 - Apr 1 by epaul |
53 Steve, Daz knows him [Post edited 1 Apr 2016 19:46]
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Loads over 55 threw their hats in the ring to go, as they're able to get a lumper and their redundancy, plus their pension, can't get that till they are 60 though I think, apparently if the wait till they are 60 and then go they'll lose 25% of their pension, which obviously works out at 5% for each yr above 60 till they are 65, meaning if they go at 61 they'll lose 20% 63 10% etc.
Apparently there is a deficit in the pension fund of 15 billion I was told, a lot of that money was to bail out Moiden in Holland as well and they are now in profit ironically.. |  |
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| Tata on 20:23 - Apr 1 with 1873 views | Lohengrin |
| Tata on 19:49 - Apr 1 by exiledclaseboy |
£29k for 37 years service? Is that even legal? |
I think Paul has got a bit mixed up. I've had a quick scribble on the back of a fag packet and make the redundancy payment to this chap something like £46,250, give or take. The 29K figure may be the option he selected for his pension lumper he's owed. The lower the lump sum chosen the higher the monthly payment.
After working a lifetime in heavy industry he'll have earned that. |  |
| An idea isn't responsible for those who believe in it. |
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| Tata on 20:23 - Apr 1 with 1871 views | epaul |
| Tata on 20:15 - Apr 1 by max936 |
Loads over 55 threw their hats in the ring to go, as they're able to get a lumper and their redundancy, plus their pension, can't get that till they are 60 though I think, apparently if the wait till they are 60 and then go they'll lose 25% of their pension, which obviously works out at 5% for each yr above 60 till they are 65, meaning if they go at 61 they'll lose 20% 63 10% etc.
Apparently there is a deficit in the pension fund of 15 billion I was told, a lot of that money was to bail out Moiden in Holland as well and they are now in profit ironically.. |
Kin ell thats bad, how they going to explain that one! He's hapy to take it, got to say when I was made redundant in 2011 after 20 years in the Met I had a decent payout, irony is the CSCS was what the unions negotiated with T******r . Its been changed now though |  |
| The hair and the beard have gone I am now conforming to society, tis a sad day
The b*stards are coming back though |
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| Tata on 20:27 - Apr 1 with 1863 views | Darran |
| Tata on 20:23 - Apr 1 by Lohengrin |
I think Paul has got a bit mixed up. I've had a quick scribble on the back of a fag packet and make the redundancy payment to this chap something like £46,250, give or take. The 29K figure may be the option he selected for his pension lumper he's owed. The lower the lump sum chosen the higher the monthly payment.
After working a lifetime in heavy industry he'll have earned that. |
I concur summin not right here. |  |
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| Tata on 20:28 - Apr 1 with 1870 views | Lohengrin |
| Tata on 20:15 - Apr 1 by max936 |
Loads over 55 threw their hats in the ring to go, as they're able to get a lumper and their redundancy, plus their pension, can't get that till they are 60 though I think, apparently if the wait till they are 60 and then go they'll lose 25% of their pension, which obviously works out at 5% for each yr above 60 till they are 65, meaning if they go at 61 they'll lose 20% 63 10% etc.
Apparently there is a deficit in the pension fund of 15 billion I was told, a lot of that money was to bail out Moiden in Holland as well and they are now in profit ironically.. |
Home Office legal accountants need to be swarming all over the British Steel Pension records to ascertain the full extent of the pilfering these Indians have been up to.
As far as I'm aware there was some 80 million diverted to try and balance the books at Ijmuiden and I'm prepared to bet that the money (and overspend) for the new Blast Furnace at Port Talbot has come from the same source. | |
| An idea isn't responsible for those who believe in it. |
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| Tata on 20:34 - Apr 1 with 1845 views | dickythorpe |
When the reports say "losing a million a day" is that the unsold steel they mean or running costs, wages etc included as well as that unsold steel? |  | | |
| Tata on 20:40 - Apr 1 with 1821 views | Lohengrin |
| Tata on 20:34 - Apr 1 by dickythorpe |
When the reports say "losing a million a day" is that the unsold steel they mean or running costs, wages etc included as well as that unsold steel? |
It's a form of sleight of hand, truth be told. Profit for Tata is accrued further down the line. A huge amount of production at Port Talbot is for other Tata plants like Trostre, Llanwern and Corby where it is tinplated, tubed or whatever. Port Talbot supplies the steel to these other plants in coil form.
Port Talbot, as things stand, is rolling more product that at any time in the site's one hundred year history. All production records are being surpassed. | |
| An idea isn't responsible for those who believe in it. |
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| Tata on 20:42 - Apr 1 with 1811 views | Swanzay |
| Tata on 20:34 - Apr 1 by dickythorpe |
When the reports say "losing a million a day" is that the unsold steel they mean or running costs, wages etc included as well as that unsold steel? |
Javid's visit today....
He reckoned that they have been working with Tata for ages and realise the importance of Tata to PT, but didn't give any real answer apart from "We are on your side...There is time there."
He doesn't give a shite, just political talk. |  | | |
| Tata on 21:17 - Apr 1 with 1762 views | max936 |
| Tata on 20:28 - Apr 1 by Lohengrin |
Home Office legal accountants need to be swarming all over the British Steel Pension records to ascertain the full extent of the pilfering these Indians have been up to.
As far as I'm aware there was some 80 million diverted to try and balance the books at Ijmuiden and I'm prepared to bet that the money (and overspend) for the new Blast Furnace at Port Talbot has come from the same source. |
I said today when I was told, that the Unions legal team should be all over this, as you say somin isn't right, the people there have paid good money into the fund over the yrs, the Company also took a pension payment holiday as well, the other thing is that people are living longer and apparently they're able to draw on the fund until they are 90, which in fairness is fair enough if that was the deal on the table, plus its well deserved considering some of the conditions they worked in, its not great now, but its far better than it was back in the day, but that's the nature of Steel Works for you. [Post edited 1 Apr 2016 21:21]
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| Tata on 21:31 - Apr 1 with 1743 views | epaul |
| Tata on 20:23 - Apr 1 by Lohengrin |
I think Paul has got a bit mixed up. I've had a quick scribble on the back of a fag packet and make the redundancy payment to this chap something like £46,250, give or take. The 29K figure may be the option he selected for his pension lumper he's owed. The lower the lump sum chosen the higher the monthly payment.
After working a lifetime in heavy industry he'll have earned that. |
Yeah I think thats it Loh | |
| The hair and the beard have gone I am now conforming to society, tis a sad day
The b*stards are coming back though |
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| Tata on 21:36 - Apr 1 with 1726 views | max936 |
| Tata on 20:40 - Apr 1 by Lohengrin |
It's a form of sleight of hand, truth be told. Profit for Tata is accrued further down the line. A huge amount of production at Port Talbot is for other Tata plants like Trostre, Llanwern and Corby where it is tinplated, tubed or whatever. Port Talbot supplies the steel to these other plants in coil form.
Port Talbot, as things stand, is rolling more product that at any time in the site's one hundred year history. All production records are being surpassed. |
If they can't sell it though, breaking records mean nothing at the end of the day though. There's plenty of good clever people there, that'll make it work if its possible to do so, but I think its gonna have be a few steps back for a few yrs before it might be able to move small steps forward, hopefully things can get better for all concerned. | |
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| Tata on 21:37 - Apr 1 with 1720 views | raynor94 |
| Tata on 20:23 - Apr 1 by Lohengrin |
I think Paul has got a bit mixed up. I've had a quick scribble on the back of a fag packet and make the redundancy payment to this chap something like £46,250, give or take. The 29K figure may be the option he selected for his pension lumper he's owed. The lower the lump sum chosen the higher the monthly payment.
After working a lifetime in heavy industry he'll have earned that. |
This fella is under 55. so he won't be able to access his pension, or receive it monthly, as I understand it | |
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| Tata on 21:43 - Apr 1 with 1708 views | Lohengrin |
| Tata on 21:37 - Apr 1 by raynor94 |
This fella is under 55. so he won't be able to access his pension, or receive it monthly, as I understand it |
He can still take the lump sum when he leaves the company regardless of whether or not he can draw on the monthly payment. I think that's correct. | |
| An idea isn't responsible for those who believe in it. |
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| Tata on 21:45 - Apr 1 with 1703 views | Lohengrin |
| Tata on 21:36 - Apr 1 by max936 |
If they can't sell it though, breaking records mean nothing at the end of the day though. There's plenty of good clever people there, that'll make it work if its possible to do so, but I think its gonna have be a few steps back for a few yrs before it might be able to move small steps forward, hopefully things can get better for all concerned. |
As I understand it, Max, the order books are full for the entire year. It's already sold.
If the management at Port Talbot were to tell people the colour of an orange I'd strongly urge they sought a second opinion. | |
| An idea isn't responsible for those who believe in it. |
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| Tata on 21:52 - Apr 1 with 1691 views | dickythorpe |
Many thanks Loh and swanzay.
I wish all affected by this the very best of Fortune and health.
As a last resort try Castell Howell foods in Cross Hands for any vacancies, summer is coming and I'm sure there'll be jobs available. | | | |
| Tata on 21:52 - Apr 1 with 1691 views | max936 |
| Tata on 21:45 - Apr 1 by Lohengrin |
As I understand it, Max, the order books are full for the entire year. It's already sold.
If the management at Port Talbot were to tell people the colour of an orange I'd strongly urge they sought a second opinion. |
 Im only going on what I've been told, so its probably safe to assume that the facts are somewhere in-between as is the usual case. | |
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| Tata on 21:56 - Apr 1 with 1681 views | Highjack |
My brother has been made redundant from one of the companies that made stuff for the steelworks. He's been there over ten years and all he got was 4 months wages. |  |
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| Tata on 22:04 - Apr 1 with 1665 views | max936 |
| Tata on 21:56 - Apr 1 by Highjack |
My brother has been made redundant from one of the companies that made stuff for the steelworks. He's been there over ten years and all he got was 4 months wages. |
At least the company did the decent thing HJ. [Post edited 1 Apr 2016 22:15]
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| Tata on 22:28 - Apr 1 with 1634 views | Swanzay |
| Tata on 21:56 - Apr 1 by Highjack |
My brother has been made redundant from one of the companies that made stuff for the steelworks. He's been there over ten years and all he got was 4 months wages. |
No such thing as a job for life anymore due to Govt changes in employment law and giving companies preferential treatment over of the employee.
Zero hour contracts a prime example, I know not in this case, but pensions certianly are.
All part of creating a bigger divide in society between those that have etc. | | | |
| Tata on 22:51 - Apr 1 with 1607 views | longlostjack |
| Tata on 22:28 - Apr 1 by Swanzay |
No such thing as a job for life anymore due to Govt changes in employment law and giving companies preferential treatment over of the employee.
Zero hour contracts a prime example, I know not in this case, but pensions certianly are.
All part of creating a bigger divide in society between those that have etc. |
And the looser employment laws make it cheaper for a global corporation to close down operations in the UK than in countries with tougher employment laws. |  |
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| Tata on 23:04 - Apr 1 with 1590 views | Kerouac |
| Tata on 15:30 - Apr 1 by Lohengrin |
That idea was first proposed back in 1987 by Sir Melvyn Rosser of the old BSC Board at the time of initial privatisation. I hope Cable isn't trying to pass off another's contructive thoughts as his own.  |
Fair fukks you've got me there. 
In my defence I have no idea who Sir Melvyn Rosser is as I was in primary school at the time.
Anyway, it sounds like a sensible way of going about finding a buyer to me....with some strings attached. |  |
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| Tata on 00:52 - Apr 2 with 1544 views | sammylee3 |
| Tata on 23:04 - Apr 1 by Kerouac |
Fair fukks you've got me there.
In my defence I have no idea who Sir Melvyn Rosser is as I was in primary school at the time.
Anyway, it sounds like a sensible way of going about finding a buyer to me....with some strings attached. |
I'm self employed and run my own business, I spoke to my accountant in the week he said to employ people you need to be turning over £80k plus. Employing people is a nightmare, red tape and pension wise, little wonder small business can't afford to take anyone on. Yet people still people prefer to buy on line from china or buy everything from tesco then wonder why there is no money locally. |  | | |
| Tata on 07:42 - Apr 2 with 1491 views | Brynmill_Jack |
I didn't know you started there are 1968 |  |
| Each time I go to Bedd - au........................ |
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| Tata on 08:53 - Apr 2 with 1461 views | epaul |
| Tata on 20:08 - Apr 1 by Darran |
Why's he coming out Paul? |
Said he's happy to take the redundancy and got something g lined up | |
| The hair and the beard have gone I am now conforming to society, tis a sad day
The b*stards are coming back though |
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