and



My company has paid below inflation rises for the past 5 years, implemented a pay freeze this year, is closing our DB pension scheme and trying to make 1200 out of 6000 staff redundant.

Fortunately I'm not one of the 6000 in-scope for redundancy but you can bet your bottom dollar that I will be doing the best I can as a Union member and a member of our works Consultative Forum to fight all of these and if that means I go on strike then so be it.

Puig's company seems to be genuine in its problems but many companies, mine included, appear to be crying wolf when they don't have a real problem.

Trade Unions are there for a reason, like any insurance policy and I am certainly glad I am a member of one otherwise I'd be on every time.
At least with a Union there's some chance of standing up against bullying bosses.
Thatcher tried to destroy Unions but didn't quite manage it. If you want a return to pre-Union days then be my guest but they're not for me.

on now

Are you sure, really really sure that your company didn't ask to defer the payment or to make it in milestones X months apart?

The reality is that it's unlikely that any credible company would shed 1200 of 6000 staff and repay a loan of £300M without having very little alternative. The £100M operating profit figure is a red herring also unless you can tell us the turnover.

Is it possible that the parent company may have needed the £300M to repay a loan that they had taken or could one of the supporting financial institutions called in a debt to reduce thier financial burden? Stories like this are never isolated and are frequently long and complex, but don't let that stop you.

You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know

Quote ="McLaren_Field"You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know '" Not sure if you were being sarcastic or not but what about Suma started in Leeds and £24 Million turnover and the rest just for the record. www.cooperatives-uk.coop/live/im ... view09.pdf

Quote ="McLaren_Field"You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know '" Not sure if you were being sarcastic or not but what about Suma started in Leeds and £24 Million turnover and the rest just for the record. www.cooperatives-uk.coop/live/im ... view09.pdf

You could also include the John Lewis Partnership for good measure.

None of which distracts from the point, your average Co-op or JLP shopfloor worker has the first clue of what goes on in the boardroom and the only entry in the annual accounts that they are interested in is the word "dividend"