Monday, 14 September 2009

Performance-related pay? Hypocrisy rules in UK plc

The Guardian reports that UK executive pay has risen by 10% in the last year - this is a year in which the share values of these companies had a record decline. Many of the finance companies would not even be in existence today were it not for the public bailouts and liquidity injections.

These companies have laid off hundreds of thousands of workers in the last year to make savings and many more workers are suffering short-term working.

With the Government and private sector employers calling for pay freezes for low paid workers, this should be a wake-up call to trade unions and workers who once again are being forced to pay for a recession not of their making.

The TUC is meeting in Liverpool this week - let's hope some militancy and unity will emerge.

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