Despite making £900 million profit, skilled workers offered a real terms pay cut
GMB Union will launch a strike ballot for more than 2,000 members at gas giant Cadent.
Industrial action looms after workers today [Monday 7 March 2022] resoundingly rejected a below inflation pay increase of just 4 per cent next year.
With inflation running at 7.8 per cent, the deal amounts to a massive real terms pay cut.
Cadent Gas is the largest of the four gas distribution network companies, maintaining the gas network to homes and businesses throughout five regions in England; North West, East and West Midlands, East Anglia and North London.
Cadent made an operating profit of £901 million in 2021, while CEO Steve Fraser was paid £1.4 million in 2020/21.
Gary Carter, GMB National Officer, said:
“Like everyone up and down the country the cost of living crisis is hitting Cadent workers hard.
“Cadent has reduced the pay and conditions for new staff in recent years and this has come back to bite them.
“People are leaving and those remaining have had an enough of low pay and poor conditions for skilled work.
“Cadent workers aren't going to sit back and let their skills be devalued.
‘They keep gas flowing into people's homes. It's skilled and hazardous work and Cadent needs to value its employees and give them a better pay rise.
“The company made hundreds of millions last year – it can afford to treat workers better.”
