Nearly 600 executives at Transport for London (TfL) were paid at least £100,000 each last year, as the transport agency prepares to cut back bus services to make cost savings.
The 597 making six figures in the 2021/2022 financial year, which includes 40 Crossrail staff members, was an increase of more than 30 per cent on the previous year, when 455 executives got £100,000 or more. Of those 597, twelve made more than £315,000 last year, with one executive netting more than £625,000.
A spokesperson for Sadiq Khan admitted the figures were shocking but sought to pass some of the blame onto his predecessor Boris Johnson. It comes as TfL continues to negotiate a funding agreement with the government after its finances were decimated by the pandemic, with bus cuts threatened as part of cost-cutting measures.
Some 161 TfL staff members made £100,000 as a base salary last year – one fewer than the previous year – with the rest made up by overtime payments, severance packages, and bonuses deferred from the previous year because of the pandemic. TfL has said it will not pay staff any more bonuses until its finances are stable.
A spokesperson for Khan said: “The Mayor understands that Londoners will be shocked by these figures and he has been clear with TfL that these one-off payments to departing TfL staff must be minimised.
“These huge departure payments are the legacy of the sky-high salaries and long-notice periods agreed under the previous mayor, which Sadiq has taken action on.
“Since Sadiq took office in 2016 the number of people on a salary of more than £100k at TfL has dropped by nearly 20 per cent and the mayor has agreed with the TfL leadership that no new bonuses should be paid until TfL achieves financial sustainability by April 2023.”
The highest earner at TfL last year was departed head of customers, communication and technology Vernon Everitt, who made £626,037. Of that, some £352,697 was a severance package, with a base salary of just over £200,000.
Other high earners included:
- Commissioner Andy Byford, on £355,792
- Chief finance officer Simon Kilonback, on £407,461
- Crossrail chief executive Mark Wild, on £447,717
- Chief capital officer Stuart Harvey, on £375,276
- Chief customer and strategy officer Gareth Powell, on £380,294