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NBC to slash mutes and jobs?
Page 26
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3WEEPING CUTS involving the axing of 6,000 jobs and 60 route niles are likely by National Bus Company subsidiaries in a bid to 'void mounting losses caused by the current recession.
NBC route mileages are likely o drop from 724m in 1975 to 'rider 500m in 1981 to enable %IBC to pay interest on its capital iebts which this year is ex)ected to cost the company ibout £10m.
To compound NBC's problems, a further £4m interest is iayable on debts incurred in 1975 as a result of operating uneconomic but socially desirable routes at the Government's request.
In contrast to its local stage bus operations, the National Express coach network, which accounts for about eight per cent of NBC business, is carrying record loadings as a result of reduced fares and increased public awareness of coach services following the Transport Act and the successful NBC Beeper marketing campaign.