Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/395/4489

From The Socialist newspaper, 2 June 2005

HSBC: Striking back at pay-cutting bosses

INDUSTRIAL ACTION by Amicus members at HSBC on 27 May was taken as a result of a pay package which cut bonuses and imposed a below-inflation rise. But this action was a culmination of years of contempt shown by management to its workforce.

An Amicus/Unifi member at HSBC, Bootle

In January, the bank announced profits of 9.6 billion, an annual increase of 36%. But all HSBC management could offer its workers was a deal that gave 45% of staff a below-inflation rise and 10% no rise at all - an effective pay cut for over half its workforce!

This followed years of deals linked to complex bonus schemes and consistent below-inflation rises that left a majority of workers getting poorer. No wonder the bank is making record profits!

A solid strike on 27 May was a result of years of frustration felt by many workers. At the NWNDC in Bootle, staff held colourful and vocal pickets, turning away couriers and contractors. Royal Mail used managers as the CWU refused to cross the picket.

A number of agency workers also turned around, despite management intimidation even by a manager who is an Amicus member.

Although this was initially a 24-hour strike, it has shown finance-sector workers are not the white-collar pushovers that management think they are.

With the threat of further action and the disruption this would involve, the union should now demand proper pay rewards for all its workers as well as a recruitment drive for agency workers, linked to a campaign for secure contracts.

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • We must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.

Please donate here.

All payments are made through a secure server.

My donation

 

Your message: 

 


In The Socialist 2 June 2005:

Say no to the bosses' profit system

EU constitution defeated

Why French workers voted 'no' to EU referendum

Defend adult education

ID cards: 300 for a snooper's card!

The campaign for Socialism 2005 begins now

Capitalism can't solve AIDS crisis

"Struggle or death" - Pakistan telecoms workers fight privatisation

Germany: Political turmoil after the elections

Iraq: coalition plans floundering

Labour court awards Gama workers 8,000

Striking back at pay-cutting bosses

BBC offer must be rejected

It is privatisation and it is as we know it

Coventry single status dispute: the stakes are raised

FE lecturers fight for pay deal

Job losses expose Manchester's 'boom'


 

Home   |   The Socialist 2 June 2005   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

HSBC:

triangleFinancial hardship facing millions of cancer sufferers

triangleAppeal: Don't let the banks wreck our finances!

triangleHSBC jailbreak

triangleQuiz of the year

triangleThem & Us

Pay:

triangleNapo ballots for trade dispute, but members need strategy for industrial action

triangleNottingham and Mansfield trade unions rally against cuts and for better pay

triangleSouth Yorkshire Stagecoach drivers strike against measly 1% pay offer

triangleHigher education disputes

Agency workers:

triangleGoodlord sacks strikers - fight the penny-pinching, bullying bosses!

triangleReaders' opinion

Reports and campaigns

Reports and campaigns

2/12/21

Napo

Napo ballots for trade dispute, but members need strategy for industrial action

1/12/21

UCU

Higher education disputes

1/12/21

Scunthorpe

Welcome support for striking Scunthorpe scaffolders

1/12/21

Violence against women

Plymouth: Hundreds attend vigil for Bobbi-Anne McLeod

1/12/21

Education

Education unions lead campaign against Leicester academisation

1/12/21

RMT

RMT strikes against abolition of night tube train operators

1/12/21

Stagecoach

South Yorkshire Stagecoach drivers strike against measly 1% pay offer

1/12/21

Pay

Nottingham and Mansfield trade unions rally against cuts and for better pay

1/12/21

School

Oaks Park school strike ends following forced concessions

1/12/21

Cuts

Building a political alternative to Tory and Labour cuts

1/12/21

Socialist Students

Stop the cuts to Uni arts funding

1/12/21

Fighting Fund

Socialism 2021: How we reached our fighting fund appeal target

1/12/21

Poverty

End fuel poverty

1/12/21

Students

Staff and students unite against university bosses' attacks

1/12/21

Housing

Housing campaigners protest CEO champagners

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: [email protected]

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 079 8202 1969

East Mids: 077 3797 8057

London: 075 4018 9052

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 077 7221 5281

West Mids: 024 7655 5620

Yorkshire: 078 0983 9793

ABOUT US

ARCHIVE

Alphabetical listing


December 2021

November 2021

October 2021

September 2021

August 2021

July 2021

June 2021

May 2021

April 2021

March 2021

February 2021

January 2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999