East London Bus Group (ELBG) is up for sale.
The company runs services in east, south east and central London – and employs around 4,500 drivers.
ELBG tried to convince workers to accept pay cuts to bail it out, despite the fact that it is owned by a consortium headed by profitable Australian investment bank, Macquarie.
A huge mass meeting of drivers in the Unite union angrily rejected pay cuts and threatened strike action if any attacks on pay or conditions took place.
No talks are being held on this year’s pay settlement and there is still some talk of pay cuts. Drivers have not had a pay rise for two years.
Drivers shouldn’t be made to pay for their bosses’ crisis.