Press Release

SIPTU highlights Tesco’s rising profits as it attempts to slash wages

Date Released: 13 April 2016

SIPTU has condemned as obscene Tesco’s announcement of a €1.2 billion profit today (Wednesday, 13th April) while later this month the company will attempt to cut long serving workers’ wages by up to 35%.

SIPTU Sector Organiser, Teresa Hannick, said: “Today, it has been reported that Tesco recorded an adjusted operating profit of €1.2 billion for Britain and Ireland. The company refuses to publish separate results for Ireland. However, it did announce that its like-for-like sales performance in Ireland turned positive in the fourth quarter for the first time since 2012.
 
“Instead of seeking to reward its loyal workforce for their role in this success the company is instead attempting to enforce pay cuts of between 15% and 35% from the 18th April on long serving staff. This is along with other changes to work patterns and loss of bonuses.
 
“It is also refusing to to fully implement a Labour Court recommendation issued on 19th February last. This awarded all retail staff a 2% pay increase and a 1.5% share bonus scheme payment.”
 
She added: “Faced with this obscene treatment our members in Tesco have voted to take industrial action, up to and including strike action. The impending industrial dispute could be avoided if the company confirms its acceptance of the Labour Court recommendation in full and withdraws its threat to unilaterally cut the pay and conditions of long serving staff.”
 
SIPTU represents Tesco retail staff in the company’s stores in Portlaoise, Cavan, Edenderry, Mullingar, Athlone, Douglas in Cork and in-store butchers throughout the country.


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