• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

LeadershipUnited Kingdom
Europe

The company operating Britain’s massive railway network is withholding bonuses from as many as 20,000 workers because they went on strike

Prarthana Prakash
By
Prarthana Prakash
Prarthana Prakash
Europe Business News Reporter
Down Arrow Button Icon
Prarthana Prakash
By
Prarthana Prakash
Prarthana Prakash
Europe Business News Reporter
Down Arrow Button Icon
August 29, 2023, 8:12 AM ET
a group of workers holding up a sign to "defend rail"
The Rail, Maritime and Transport workers union has had strikes since last summer over calls for better pay.Vuk Valcic—SOPA Images/LightRocket/Getty Images

The company that owns and manages Britain’s vast railway network has taken a firm stance against employees who participated in major strike action over the past year: it won’t pay them their annual bonuses.

Recommended Video

Network Rail’s move has stoked further anger within its workforce, according to the Financial Times, as up to 20,000 staffers could be affected by the decision. 

It comes at the heels of a protracted dispute between Network Rail and the Rail, Maritime and Transport Workers union (RMT) over pay. The disagreement, which resulted in the U.K.’s biggest train strike in decades, concluded in March with RMT accepting a 9% pay rise offer from the company. 

However, Network Rail could now face further friction with the rail union following the withholding of bonuses. The group reported a loss after tax of £1.1 billion ($1.38 billion) for the year to March 2023, with poor freight and rail performance due to strikes impacting the company’s returns.

RMT chief Mick Lynch said on Tuesday that Network Rail’s decision was “disgraceful and is understandably causing significant consternation among [union] members.”

“It is clear that the stance adopted by Network Rail both penalizes and discriminates against members for exercising their human right to associate and to participate in lawful trade union activities,” he said in an emailed statement.

“As the bonus scheme is discretionary, and not a contractual obligation, the decision to exclude RMT members has been taken in bad faith and is a transparent attempt to divide the workforce and undermine your Union, by specifically rewarding those who refused to stand in solidarity with Union members taking essential strike action.”

The bonus paid out to workers is reportedly expected to be £300 ($378), a reflection of the company’s current financial situation. In previous years, Network Rail has paid out bonuses worth around £1,000 ($1261), according to the FT.

Network Rail told Fortune on Tuesday that it had previously warned employees about the non-payment of bonuses if they participated in strikes. 

“We have been crystal clear with both our trade unions and our employees that the cost of strike action would directly impact the PRP [performance related pay] scheme,” a Network Rail spokesperson said in a statement. 

“Our position was made very clear—any discretionary payments would focus on those who continued to support rail services during industrial action.” 

The group declined to comment on whether it would consider similar measures if strikes were to continue through its current financial year. 

Industry strikes and the inflation problem

Railway strikes began last year amid growing calls for higher pay as inflation ravaged Britain’s economy and a cost-of-living crisis hurt people’s spending power. Workers in other industries like healthcare and warehousing also raised the alarm on how wages weren’t keeping up with surging costs. 

In February, the British government found that strikes across the country had resulted in a loss of 2.47 million working days in the six months to December 2022. Strikes impacting railways were linked to a drop in consumer spending as fewer people were able to commute to work and buy coffee or breakfast.

Railways help connect the sprawling suburban areas of the U.K. with its urban city centers, serving as the lifeblood of the country’s economy.

Although RMT and Network Rail have agreed to a pay rise, the worker’s union is still in dispute with the Railway Delivery Group—an industry body representing train operating companies—over working conditions, pay and job security. Rail workers are continuing to strike into early September in their fight for a “just settlement” with RDG, Lynch said in a statement earlier this month.

Some strikes over the proposed closure of railway station ticket offices are also still ongoing, with unions arguing their erasure could impact vulnerable and disabled passengers.

The CEO-in-Chief speaks. Fortune sits down with President Trump on tariffs, the Intel stake, Boeing's record orders, and what the markets should expect next. Read the interview
About the Author
Prarthana Prakash
By Prarthana PrakashEurope Business News Reporter
LinkedIn icon

Prarthana Prakash was a Europe business reporter at Fortune.

See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

‘Change the World’ idealism is dying in Silicon Valley. We’ll miss it when it’s gone
CommentarySilicon Valley
‘Change the World’ idealism is dying in Silicon Valley. We’ll miss it when it’s gone
By Jonathan WeberMay 19, 2026
41 minutes ago
young worker at desk
AIGen Z
Gen Z is over-relying on AI at work—and it could cost them their careers
By Jake AngeloMay 19, 2026
41 minutes ago
reorgs
CommentaryRestructuring
We studied 6,000 executives and found the real reason 70% of transformations fail
By Julia Dhar, Kristy R. Ellmer and Philip JamesonMay 19, 2026
3 hours ago
ESG may be fading—but moral leadership isn’t
NewslettersCEO Daily
ESG may be fading—but moral leadership isn’t
By Diane BradyMay 19, 2026
4 hours ago
College graduates sitting at commencement yell.
AIEducation
College students are booing commencement speakers celebrating AI, but the wave of hate hasn’t stopped them from using it to cheat on their exams
By Sasha RogelbergMay 19, 2026
5 hours ago
Billionaire space founder says a simple kids marshmallow test can reveal if you’ll stay stuck in the middle class forever
SuccessBillionaires
Billionaire space founder says a simple kids marshmallow test can reveal if you’ll stay stuck in the middle class forever
By Orianna Rosa RoyleMay 19, 2026
6 hours ago

Most Popular

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
7 days ago
While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense and gold
Economy
While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense and gold
By Eva RoytburgMay 18, 2026
18 hours ago
Current price of oil as of May 18, 2026
Personal Finance
Current price of oil as of May 18, 2026
By Joseph HostetlerMay 18, 2026
24 hours ago
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
Politics
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
By Alyson ShontellMay 18, 2026
1 day ago
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
Travel & Leisure
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
By Rio Yamat and The Associated PressMay 18, 2026
24 hours ago
Mamdani's New York is coming to tax your private jet. Here's how to prepare
Personal Finance
Mamdani's New York is coming to tax your private jet. Here's how to prepare
By Greg RaiffMay 16, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.