Blantyre abandons planned cuts to UK pensions

US-based data analytics firm Palantir has abandoned plans to reduce the company’s pension contributions in the UK after complaints from workers.

In the UK, Blantyre has around 850 workers, and those who joined more than two years ago will be affected by the pension cuts.

according to financial timesAnd the Palantir has informed its UK employees Last September, the company was considering reducing its contribution to the pensions of its long-serving employees from 10% of salary to 6%.

The company said the amendment would make the pension contributions received by UK employees who started working after April 2020 and those of all other employees in line.

A quarter of UK employees will be affected by the planned move, which was due to come into effect in January 2023.

After the announcement, more than 200 employees joined a group on business messaging platform Slack to talk about the changes. Several employees have spoken out against the proposed cuts.

Shyam Sankar, chief operating officer of Palantir, had a phone call with employees last Monday in response to the backlash.

One of the workers said F That the question-and-answer session with management was “cruel”, and that it included discussing the salaries of the executives themselves.

Palantir’s top executives received total compensation of $8 million in 2017. Alex Karp, the company’s CEO, received $1.1 billion in compensation in 2020, including one-time stock awards linked to the successful completion of the IPO.

After the quality assurance session, Sankar informed the employees that the management had canceled the pension reduction plan.

He also regretted the way in which the concept was presented.

Palantir said its shift to pensions was just “good practice”.

“It is not unusual for a company to review its pension policy from time to time. However, it is also good practice for an employer to listen carefully to its employees,” the company said.

“We take particular pride in recognizing our employees because we know that our great employees are driving our success. That is why, after we interacted with those who might be affected by the potential change, we made the immediate decision not to move forward.”

Palantir was founded in 2003 by prominent financier Donald Trump and PayPal investor Peter Thiel. The company helps organizations analyze large amounts of data from governments and other sources to gain valuable insights.

In 2020, . was released The NHS hired Palantir to help With the Covid-19 response. However, the relationship ran into legal problems, and the government eventually backed away from expanding it.

Civil liberties groups, both in the UK and abroad, are concerned about Palantir’s track record of secrecy and the provision of its tools to government surveillance in the US and elsewhere.

Palantir is currently seeking a contract with the NHS for a total of £360m, which is up for auction.

Bloomberg It said last week that the data-mining company was developing a confidential strategy to bolster its relationships with the NHS. According to this report, Business wants to buy smaller competitors who already have contact with the health service. This will allow Palantir to work with one of the world’s largest health data repositories, without drawing public attention.

Lewis Moseley, Palantir Regional Leader, revealed the approach in an email titled “We buy our way in…!” in September 2021. He discussed “smashing” the small businesses that serve the NHS to “take a lot of ground and eliminate a lot of political resistance.”

Mosley listed attributes of appropriate UK acquisition targets, including sales of software services to the NHS; Reputable leadership and annual revenues between £5 million and £50 million.

Palantir is also seeking to follow a different scheme that includes recruitment from within the NHS.

Indra Joshi, who served as director of artificial intelligence at NHSX, was appointed by Palantir in April.

according to BloombergJoshi – as Director of AI at NHSX – has struck agreements and led a grant program to fund technology companies’ development of artificial intelligence to advance disease diagnosis while providing access to NHS patient information.

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