Link to this page: http://www.socialistparty.org.uk/issue/634/10064
From The Socialist newspaper, 4 August 2010
Angry workers strike over pay freeze and bosses' bonuses
On 27 July, for the second time in less than a week, workers at Meggitt Aircraft Braking Systems based in Coventry went out on a 24-hour strike as well as imposing a continuous ban on overtime.
Lenny Shail, Coventry Socialist Party
A shop steward at the factory commented: "I've worked here 30 years and this is the first time I've been on strike, I wasn't really sure what to do! But when you're pushed, you react.
They have already started regrading our jobs, which is basically a pay cut through the back door."
Despite the company making £494.2 million in gross profits in 2009, bosses have attempted to impose a pay freeze on the workforce in Coventry.
The workforce made Meggitt's profit, yet bosses are awarding themselves huge bonuses on top of their massive salaries.
Meggitt chief executive was awarded a bonus of £770,000 plus shares, on top of his salary of £600,000.
Two other senior managers with salaries of £360,000 and £272,000 got bonuses of £463,000 and £353,000 plus shares.
Unite's regional officer, Alan Lewis said: "Our members are justifiably furious. The scale of greed is nothing short of scandalous. Workers' pay is being frozen while three senior managers are awarded £1.5 million in bonuses. A fair pay increase of 4% for the staff in Coventry would cost the company less than a quarter of the cost of the bonuses given to just three men.
"Some workers have even had their pay cut by £17,000. Unite will not tolerate this behaviour and will back its members until the company takes hold of its senses and rewards its staff fairly."
Such was the anger and determination to force management back, workers picketed the factory for nearly the whole of the two 24-hour strikes with 20-25 workers always at the gates.
One worker had missed shifts at his second job so he could take his turn on the picket and was pleased to see the level of support from outside with fellow Unite members and a postman joining the picket.
Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.
In The Socialist 4 August 2010:
We need 'biggest movement since poll tax'
Anti-cuts campaign
'Radical' cuts require serious action
Waltham Forest's Labour council faces opposition
Coventry campaigners fight cuts of £140 million
Swansea trades council leads battle for services
Campaigners answer Bristol's 'Big Conversation'
Cuts news: Mental health services facing the axe
War and occupation
Afghanistan: US strategy in disarray
Accademies
Oppose divisive academies policy
Workplace news and analysis
Talks resume at British Airways
Angry workers strike over pay freeze and bosses' bonuses
Witch-hunted Unison activist wins tribunal
Workplace Debate
Unite general secretary election
Youth fight for jobs
We won't be a lost generation, fight for jobs and education!
No to privatisation of our universities
For real jobs, not slave labour
Environment and socialism
Profiting from wrecking the environment
Tamil Solidarity
Daily Mail admits guilt over smearing Tamil hunger striker
Socialist Party LGBT
Socialist Party events
Socialism 2010 - a weekend of discussion and debate
International socialist news and analysis
Love Parade catastrophe was entirely preventable
Garment workers demand a living wage
Socialist Party news and analysis
Tories put profits before patients
Rich just carry on getting richer
Review & Comment
Home | The Socialist 4 August 2010 | Join the Socialist Party
Join us today!
Printable version
email to friend
