Published: Thursday, 14th May, 2009 4:00pm

Fare hikes at crisis-hit Reading Buses

by Adam Hewitt

Chief executive James Freeman

STRUGGLING Reading Buses wants staff to come up with cost-saving ideas to save their jobs.

The company"s expected revenue from single fares alone is down £100,000 in the last month so it is hiking return fares, cutting bus frequency and maybe jobs too.

Personnel Manager Caroline Anscombe told employees: 'We are sure you have some great ideas of your own. If you do have any ideas you think will help us as a company to cut costs, save money and improve efficiency then we would love to hear from you. These ideas can be short term quick fixes or indeed have long term benefits - all ideas will be considered.'

The company is currently planning to:

- Introduce Easysaver smart card tickets on Monday, June 1, costing £12 for 10 trips

- From June 1, Busabout day tickets are going up 30p to £3.50, single fares staying at £1.70

- Weekly Reading £9 and £10 tickets both going up by £1

- Summer timetables from July 13 with reduced frequency on some routes

- Close Newbury Buses station offices. No change to timetables.

- Consider job cuts among Reading drivers in the third week of September

- Cut spending across all departments

In November ahead of the last major fare rise, chief executive James Freeman said: 'By taking decisive action now we hope we can stave off a further fares rise for another 12 months.'

But he said this week: 'This is a fast changing situation. The present extremely adverse position only became clear about eight weeks ago. We are not alone, as many other bus companies across the country are facing similar if not worse problems. The number of buses we run has to go up and to go down according to demand. We have respond to what is happening around us. It is our intention that by acting decisively and quickly over the next four months we can restore the performance of Reading Transport before the next financial year starts on October 1.'

Link: www.readingbuses.co.uk

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