The Unite union is seeking a £500 bonus for members who work during the Olympics.
Staff working on the DLR, Tube, Cycle Hire and London Overground have all agreed extra Olympic payments.
Although London’s bus services are regulated by Transport for London, the drivers and other staff are employed by private bus companies.
Mayor Boris Johnson has previously called on employers and the union to settle their dispute and secured £8.3m from the Olympic Delivery Authority to fund the bonuses.
Today TfL offered to share additional bus fare revenue generated during the Games with operators provided they then pass it on to their employees.
TFL says the offer means “all London bus staff affected by the London 2012 Games would earn over £700, on top of their existing salaries, if they worked shifts on 24 of the 29 days of the Olympic and Paralympic Games.”
Settlement talks between bus operators and the union will now continue at ACAS.
TfL’s Managing Director Surface Transport, Leon Daniels, said: “We welcome the news that the planned strike action on the bus network has now been suspended.
“Londoners will no doubt be relieved that the two parties – the bus operators and the union – will now be continuing their negotiations and that they will not face disruption tomorrow.”
William Spring says
I want to complain to the Mayor & to TFL @ the nature of the settlement so far disclosed. It seems any bonuses are only to be paid to Unite members. What is the situation for those drivers & engineers in minority unions including ER & for those who joined the strike in solidarity & for those who worked normally &/or did not initiate a dispute with their employers &/or TFL? The reports we are getting suggest the Mayor & TFL (Peter Hendy) have shafted the non Unite drivers cutting them out of the settlement. As by your own statistics one third of drivers in London worked normally on the one day of the strike we find this appalling. Also we find the Mayor’s tactics inexplicable. If he was to make an offer why did he leave it so late? Why having rejected the demand for a £500 bonus does he then endorse a £700 bonus? A lot of inconvenience could have been avoided if he had just said he supported the original offer. Can TFL assure us the Mayor is not seeking to create an illegal closed shop in London for bus staff? We are asking the GLA Transport Committee to investigate these Alice in Wonderland tactics by Boris who seems to have taken leave of his senses.