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From The Socialist newspaper, 30 October 2019

Argos Christmas bonus cut

Argos-Sainsbury's, photo Martin Pettitt/CC

Argos-Sainsbury's, photo Martin Pettitt/CC   (Click to enlarge)

Millionaire retail boss Mike Coupe, who was caught on camera singing "we're in the money" on TV before an interview about a possible Sainsbury's-Argos merger, has halved Argos workers' Christmas bonus to just 5.

Argos' 16,000 shop staff earn a typical 11,931 a year, which contrasts with the 3.9 million Coupe pockets after his bonus soared to 593,000.

Coupe's excuse for cutting the bonus was to bring it in line with Sainsbury's workers who already only get a fiver. Sainsbury's bought Argos for 1.4 billion in 2016.

Sainsbury's has already made moves to cut paid breaks, special rates for Sundays and annual bonuses.

It's only October but Coupe is already auditioning for the role of Scrooge.

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The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

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In The Socialist 30 October 2019:


What we think

Anti-austerity, socialist policies can be a winning formula

Mass protests rock the globe


News

Tories out now. Bin Boris. Corbyn can win with socialist policies!

39 migrants found dead in Essex lorry container

Argos Christmas bonus cut


Wall Street Crash

The 1929 Wall Street Crash: When the capitalist system was on its knees


Workplace news

PCS union election: For a fighting democratic general secretary

PCS: Support Marion Lloyd - a history of workers' struggle and a programme for the future

McDonald's - Striking to end low pay

London - 'autumn of discontent'

RMT election: Fight the cuts, vote for Jared Wood

Uni workers' pay and pension strike ballot


Butterfields

How working-class tenants beat Gentrification


Black history

Black Liberation... Only possible through socialist struggle

Obituary - Bob Lee: 1954 - 2019


International socialist news and analysis

Chile in revolt


Socialist Party reports and campaigns

Enfield North socialists lobby candidate stitch-up

Selling the Socialist

Donate to fund the fightback at Socialism 2019

Chile protests - London solidarity rally


Reader's opinion

Life in the gig economy

Film reviews: Sorry We Missed You by Ken Loach

TV: The Accident - Will capitalism be exposed in upsetting, true-to-life drama?

Opinion: Labour Party is structured to block left councillors

The Socialist inbox


 

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