It’s time for G4S to stop this counterproductive race to the bottom – regardless of whether the takeover goes ahead
It’s time for G4S to stop this counterproductive race to the bottom – regardless of whether the takeover goes ahead
GMB has told G4S shareholders to protect members’ jobs and pensions in the face of a hostile takeover and reports ‘erratic’ decision making by local management in recent days in the face of the pandemic and the potential takeover.
GardaWorld, backed by private equity firm BC Partners, has launched a £3 billion takeover.
GMB has the right to include the union’s 'opinion' of the takeover in the shareholders presentation pack.
In the submission, the union notes G4S recorded an underlying profit of £187 million in the first six months of the year - before exceptional items – despite adverse trading conditions.
The union says more than 1,000 planned redundancies are not ‘inevitable’ and calls for security for the pension scheme’s 26,000 members.
Nadine Houghton, GMB National Officer, said:
“G4S is a profitable company. It doesn’t need to cut jobs and should be paying staff a real living wage.
“Our hard-working members deserve security over their retirement.
“It’s time for G4S to stop this counterproductive race to the bottom – regardless of whether the takeover goes ahead.”
