Link to this page: https://www.socialistparty.org.uk/issue/201/8462
Dinners For Them...
THE BOSSES have cottoned on that an economic recession is threatening and they're telling us we all have to make sacrifices. But these sacrifices are not all equal.
High fliers at Credit Suisse First Boston have been ordered to keep the cost of celebration dinners down to a mere £7,000 after clinching deals. That's their idea of a cut back. Other City fat cats have been told to fly economy class or stop using taxis.
All this is necessary, they say as 20,000-30,000 jobs are threatened in the City of London because of the US and Japanese economic troubles.
But it won't be the fat cats who lose their jobs, although they may whine as they reluctantly trim and tuck their extravagant expense accounts for a short while.
...Dole For The Workers
AS THE fat cats gorge themselves, working-class people are suffering the bosses' slash and burn policies designed to maintain their profit margins.
Multinational telecoms company Marconi made £1 billion profit last year and claims it has a £6 billion order book. But it's announced that 3,000 jobs will be cut from its worldwide workforce.
Over 1,200 are at Marconi's UK factories in Liverpool and Coventry - 1,000 jobs could go at Coventry.
Coventry Socialist Party councillors were angered at the news and are urging a fightback.
Councillor Rob Windsor said: "The whole of Coventry should give Marconi a clear message that we will not accept yet another blow to manufacturing."
Socialist group leader, Councillor Dave Nellist added: "Four months ago, Marconi boasted of plans to build a new headquarters in Coventry, which they said would create 2,000 jobs.
"Now they're stabbing Coventry in the back with mass redundancies. Just like Rolls Royce, also with a huge order book, which is threatening 1,300 job losses in Coventry.
"Shareholders' interests are put well before those of the employees who actually make the company what it is."
Rob Windsor concluded: "If privately owned companies like Marconi and Rolls Royce can't guarantee jobs, particularly after the huge profits they've made, then their days of remaining in private ownership should be numbered.
"Just getting angry is not enough, we need to get organised."
Where workers have been organised and fought back, like in Knowsley (see The Socialist newspaper page 4), then they can win and turn back the bosses' offensive.
In The Socialist 13 April 2001: