Punch denies plans to cut office jobs
Punch has denied it is about to make staff at the recently acquired Spirit Group reapply for their jobs to cut out duplication.
The pub company bought the Spirit Group for £2.7billion in December and the merger has led to concerns among staff that jobs are being duplicated across the group.
The local paper where both Spirit and Punch's offices are based, the Burton Mail, has reportedly spoken to staff who say they've been tipped off abut having to reapply for their jobs.
The paper admits no formal announcement has been made but quotes staff as saying they've been told by their managers.
However, a spokesman for Punch told morningadvertiser.co.uk: "We are not due to make any immediate announcement to employees regarding the future structuring of Punch Taverns.
"Our intention is still to create a dynamic and successful pub business based in Burton, featuring both strong leased and managed divisions.
"It is still too early to say exactly how the merger may affect specific departments of personnel and therefore the message to everyone remains business as usual.
"We remain totally committed to open communication and keeping employees informed of all key company developments."
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Your CommentsRobert Feal-Martinez via email 03/05/2006"We remain totally committed to open communication and keeping employees informed of all key company developments."
"That is company speak for we will let you know when you are to be made redundant. It is a no brainer really when Punch are converting managed to lease and divesting itself of non lease material. My advice to Punch staff would be to leave now before there are too many others looking for work. I think if you ask 9 out of every 10 Pubco tenants., whether they would believe their company telling them night follows day, they would ask for a written statement to that effect. That is how much you can trust Pubco's."
David via email 03/05/2006"The key thing with this is that with Punch being a Stock Market Listed Company they will have to come out and deny whatever's 'speculated' in the papers.
One of the rules of being stock market listed is taht all anouncements must be made to the 'city' before anywhere else.
Everyone knew it was on the cards when the takeover was confirmed. Punch in the Long Term will not keep a managed estate for a number of reasons.
a, It isnt their core business (the one they have made a huge success)b, more costly to keep managed housesc, They will want to recoup some of the cash they paid for Spirit.
David via email 03/05/2006"Punch have around 350 HO staff looking after around 8000 pubs
Spirit have 450 HO staff looking after about 1500 pubs.
even if Punch retain all of the pubs from the spirit estate - its obvious they wont be needing anywhere near the 450 staff they already have.
heaven knows whats happening with the field staff.
