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Steel unions tell Tata Steel bosses to return bonuses

Steel unions tell Tata Steel bosses to return bonuses

13 July 2017

The National Trade Union Steel Coordinating Committee described confirmation that Tata Steel’s top executives had been paid bonuses totalling £25 million as a ‘slap in the face’ and told bosses to return the money today (Thursday 13 July).

Responding in joint statement through the NTUSCC, the steel unions Unite, GMB and Community said: “Tata Steel managers should hang their heads in shame. With the rumours now confirmed that 100 top executives have been awarded huge bonuses, our members will rightly be disgusted. 

“Our members have weathered the biggest steel crisis in a generation, and for many the future is still uncertain. Everyone knows how tough the last couple of years have been, but management promised that we were "all in it together" - today's news makes a mockery of that promise. 

“Steelworkers have taken tough decisions to secure the future of our industry, yet it seems management don’t want to share the burden. Stuffing their pockets with millions of pounds in bonuses is a slap in the face to every one of Tata’s loyal steelworkers. That money would be better spent on new investment and to reward those workers who have already given up so much to help protect their industry. 

“Tata's excuse that they needed to offer incentives for managers to stay with the company is laughable. Tata Steel managers already enjoy very generous salaries and benefits, if that is not enough to keep them working in our proud industry then frankly it would be better if they left. 

“Steelworkers have always sought to work in partnership with their employer to build a successful steel industry for all. We now call on managers to do the right thing; return the money and support us as we work to turn around the business and save the future of British steelmaking.”

ENDS