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From The Socialist newspaper, 30 October 2019

Argos Christmas bonus cut

Argos-Sainsbury's, photo Martin Pettitt/CC

Argos-Sainsbury's, photo Martin Pettitt/CC   (Click to enlarge)

Millionaire retail boss Mike Coupe, who was caught on camera singing "we're in the money" on TV before an interview about a possible Sainsbury's-Argos merger, has halved Argos workers' Christmas bonus to just 5.

Argos' 16,000 shop staff earn a typical 11,931 a year, which contrasts with the 3.9 million Coupe pockets after his bonus soared to 593,000.

Coupe's excuse for cutting the bonus was to bring it in line with Sainsbury's workers who already only get a fiver. Sainsbury's bought Argos for 1.4 billion in 2016.

Sainsbury's has already made moves to cut paid breaks, special rates for Sundays and annual bonuses.

It's only October but Coupe is already auditioning for the role of Scrooge.

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In The Socialist 30 October 2019:


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Obituary - Bob Lee: 1954 - 2019


International socialist news and analysis

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Socialist Party reports and campaigns

Enfield North socialists lobby candidate stitch-up

Selling the Socialist

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Reader's opinion

Life in the gig economy

Film reviews: Sorry We Missed You by Ken Loach

TV: The Accident - Will capitalism be exposed in upsetting, true-to-life drama?

Opinion: Labour Party is structured to block left councillors

The Socialist inbox


 

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