Unite urges AXA to abandon unfair bonus system
2nd November 2009
Unite, the UK’s largest trade union has today (Monday 2nd
November) written to the management of AXA UK to express alarm that
staff could face a pay freeze, while some senior management will
have their bonus payments boosted.
The pay proposal for 2010, announced by AXA UK CEO, Nicolas Moreau
in September, could mean that some 12,000 staff across the UK will
have their pay frozen, while many senior managers and executives
may be awarded large bonuses.
Many of the staff who will be affected by this pay scheme earn less
then £20,000 per year.
Rob MacGregor, Unite national officer, said: “Unite has written to
AXA UK's CEO to express opposition on the implementation of a
reward and remuneration system which is based around the payment of
a bonus with a higher percentage to senior executives. There is no
support amongst our members for the introduction of this unfair and
inequitable system.
“AXA should be seeking to give its entire hard-working and
deserving workforce at least a cost of living pay rise and not
merely the top bosses massive bonuses. Some of AXA's staff earn as
little as £10,303 per year.
“The union views the emphasis by AXA towards a bonus system as
misguided and totally out of step with public opinion. The
financial system should be moving towards transparent and fair
reward systems, not denying those workers who are delivering AXA
customers the highest standards the recognition they
deserve.”
Unite is sensitive to the financial difficulties which AXA faces
and has worked hard with the company over recent years in
reorganisation and cost reduction. The union believes that under
difficult operating circumstances it is ill-advised for the
proposed bonus system to be introduced. The proposed bonus scheme
would cost approximately £15.5 million, and a cost of living pay
rise to all staff will cost half of this amount.
ENDS
For more information contact Ashraf Choudhury, Unite press office
on: 07980 224 761.
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