Thames Water Halts Executive Bonuses Amid Debt Crisis

Thames Waters proposed two-point-five-million-pound bonus payout for executives has been halted following political backlash and public outcry. The utility company, burdened with twenty-one billion pounds of debt, had planned to reward twenty-one senior executives with an average of one hundred seventeen thousand pounds each. The controversy arose as Thames Water, which supplies around sixteen million customers daily, is attempting to avoid a taxpayer-backed administration. Lenders and members of Parliament criticized the plan, labeling it an outrage. Although the specific bonus payout has been paused, thirteen-point-five million pounds is still due to be paid to staff under the retention bonus scheme next year, potentially reigniting the controversy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.