Planned rail strikes by workers from the Rail, Maritime and Transport (RMT) union set to begin later this week, have been suspended after Network Rail offered a 2% pay rise.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The decision comes after four days of intensive talks between Network Rail, and the RMT, TSSA and Unite unions over an ongoing dispute over pay, working practices and job security at the track operator.
The UK’s Advisory, Conciliation and Arbitration Service (ACAS) has helped the parties meet a common point with revised proposals.
The new proposal would see a 2% pay rise, effective retrospectively from January this year, followed by another rise in line with Retail Price Index (RPI) inflation next year, based on the November 2015 figure.
Additionally, Network Rail and the trades unions agreed to participate on the basis of joint working in an Efficiency and Improvement Project (under the auspices of ACAS), to deliver savings.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNetwork Rail CEO Mark Carne said: "I am very pleased that the industrial action has been suspended. With ACAS’s help, we have had very constructive talks with the unions over the weekend and I hope they will be able to agree this deal."
As part of the discussions, a comprehensive job security package will be agreed by Network Rail and the Unions within the next six months.
RMT general secretary Mick Cash said: "Following extensive ACAS talks throughout the weekend, RMT has now received a revised offer that enables us to suspend the planned industrial action while we consult in full on the details of the revised package with our Network Rail representatives."
