April 24, 2020 / 10:25 AM / a month ago

Transport for London to furlough 7,000 staff, access UK job retention scheme

FILE PHOTO: A woman wearing a protective face mask walks out of an underground tube station in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, London, Britain, March 9, 2020. REUTERS/Toby Melville

LONDON (Reuters) - Transport for London (TFL) said on Friday it would place 7,000 staff on furlough and access the British government’s job retention scheme, saving nearly 16 million pounds ($19.72 million) a month in the face of the coronavirus crisis.

“TfL is to place 7,000 staff whose work has been reduced or paused as a result of the coronavirus pandemic on furlough from Monday. This will allow TfL to access funding from the Government’s Job Retention Scheme, saving the organisation an estimated 15.8 million pounds every four weeks,” TfL, which runs the city’s Underground subway system and bus network, said in a statement.

“This will partly reduce the huge financial impact of coronavirus whilst constructive discussions continue with Government on the wider revenue support that TfL will need to continue the effective operation of London’s transport network.”

Reporting by Alistair Smout; editing by Sarah Young

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