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South West Trains has declared its intention to slash 480 jobs on its operations. SWT’s parent company is Stagecoach, which is owned by the fabulously wealthy Brian Souter.For years winning a franchise to run one of the train operating companies has been a license to print money. Profit really comes from the fares paid by passengers and the government subsidies, handouts from taxpayers. Now that recession is here, passenger numbers are set to fall. The railway companies are feeling the pinch. They have decided to make their staff take the burden of the fall in revenues