exiges Posted December 6, 2011 Share Posted December 6, 2011 http://www.bbc.co.uk/news/uk-england-humber-16045680 More than 150 workers at a North Lincolnshire steel firm are taking a 50% pay cut to help their employer stay in business. Staff at Caparo Merchant Bar (CMB) in Scunthorpe have also agreed to take an extended holiday over the Christmas and new year period. Many will return to work on 3 January after taking a longer break than usual and at half their normal wage. Workers are being supported by the Community Trade Union. 'Economic realities' Andy McGarrigle, from the union at CMB in Scunthorpe, said the company was feeling the effects of the recession. He said: "We do see this as a short-term problem, we're hopeful that we can see the company through these difficulties and by working with the company we can hopefully come out in the new year and see the company begin to grow. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted December 6, 2011 Share Posted December 6, 2011 Admirable. They deserve to survive. I bet staff-management relationships are good there too. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted December 6, 2011 Share Posted December 6, 2011 It doesn't say what the wages are like. Will the taxpayer be picking up some of this cut as working family tax credit etc... More information is needed, although it's an admirable decision by the workers to try and stay in business. Likely to become a permanent cut? Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted December 6, 2011 Share Posted December 6, 2011 Bentley should take the 6% rise In the same way that workers should be prepared to take pay cuts when their company isn't doing so well, they should also be able to ask for higher pay settllements when the company IS doing well. Even if that means pay rises of > 10%. Or does flexibility only work one way? Quote Link to comment Share on other sites More sharing options...
@contradevian Posted December 6, 2011 Share Posted December 6, 2011 (edited) Property is cheap in that part of the world. Helps the workforce absorb a wage cut or short time working. Probably not so easy in the more leveraged south, but they tend to benefit from the QE cash. Not sure WTC would apply as its to some extent dependent on what you earned last year. It might in subsequent years however. Edited December 6, 2011 by John Steed Quote Link to comment Share on other sites More sharing options...
awaytogo Posted December 6, 2011 Share Posted December 6, 2011 http://www.bbc.co.uk/news/uk-england-humber-16045680 More than 150 workers at a North Lincolnshire steel firm are taking a 50% pay cut to help their employer stay in business. Staff at Caparo Merchant Bar (CMB) in Scunthorpe have also agreed to take an extended holiday over the Christmas and new year period. Many will return to work on 3 January after taking a longer break than usual and at half their normal wage. Workers are being supported by the Community Trade Union. 'Economic realities' Andy McGarrigle, from the union at CMB in Scunthorpe, said the company was feeling the effects of the recession. He said: "We do see this as a short-term problem, we're hopeful that we can see the company through these difficulties and by working with the company we can hopefully come out in the new year and see the company begin to grow. A lot more of these sort of cuts to come to survive in the new world market. Quote Link to comment Share on other sites More sharing options...
Tin Foil Hat Posted December 6, 2011 Share Posted December 6, 2011 Property is cheap in that part of the world. Helps the workforce absorb a wage cut or short time working. Probably not so easy in the more leveraged south, but they tend to benefit from the QE cash. Not sure WTC would apply as its to some extent dependent on what you earned last year. It might in subsequent years however. It sure as shit isn't cheap given it's the **** end of nowhere with no local prospects at all. And you can't easily commute anywhere either. Local wage is tiny - as a local earnings multiple a decent (standard non-shitbox) house is well into the 10-20 range. Quote Link to comment Share on other sites More sharing options...
Lepista Posted December 6, 2011 Share Posted December 6, 2011 In the same way that workers should be prepared to take pay cuts when their company isn't doing so well, they should also be able to ask for higher pay settllements when the company IS doing well. Even if that means pay rises of > 10%. Or does flexibility only work one way? Exactly. I'm not so sure the management would be quite so happy to implement it if the workers demanded a %age of the company in lieu of salary. That's what I'd be demanding. Quote Link to comment Share on other sites More sharing options...
Stainless Sam Posted December 6, 2011 Share Posted December 6, 2011 Property is cheap in that part of the world. Helps the workforce absorb a wage cut or short time working. Probably not so easy in the more leveraged south, but they tend to benefit from the QE cash. Not sure WTC would apply as its to some extent dependent on what you earned last year. It might in subsequent years however. Food costs the same everywhere. So does transport, petrol, cost of heating a home, water, rates, clothes for the kids, bog rolls. Not to mention other "essentials" like a TV licence, carpets on the floor, curtains at the windows. A pay cut or short term working based on a sh!tty basic wage is still a serious kick in the nuts. Taking 50% is a serious punt at hoping something will still be there this time next year. Where do people get off with this "more leveraged south" tosh? Home owners the length and breadth of the country are mortgaged at historical record levels compared with their earnings, that's why we're so deep in the do-do and why it will be a bloodbath when interest rates finally go up. Good luick to these guys. I hope that their sacrifice and optimism isn't rewarded by worse redundancy conditions if some of them, or indeed the whole firm bites the dust. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted December 6, 2011 Share Posted December 6, 2011 Food costs the same everywhere. So does transport, petrol, cost of heating a home, water, rates, clothes for the kids, bog rolls. Not to mention other "essentials" like a TV licence, carpets on the floor, curtains at the windows. A pay cut or short term working based on a sh!tty basic wage is still a serious kick in the nuts. Taking 50% is a serious punt at hoping something will still be there this time next year. Where do people get off with this "more leveraged south" tosh? Home owners the length and breadth of the country are mortgaged at historical record levels compared with their earnings, that's why we're so deep in the do-do and why it will be a bloodbath when interest rates finally go up. Good luick to these guys. I hope that their sacrifice and optimism isn't rewarded by worse redundancy conditions if some of them, or indeed the whole firm bites the dust. Yep i hope the company is as genuine to the workers as the workers are to the company. Quote Link to comment Share on other sites More sharing options...
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