Link to this page: https://secure.socialistparty.org.uk/issue/1062/29780
From The Socialist newspaper, 30 October 2019
Argos Christmas bonus cut
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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In The Socialist 30 October 2019:
What we think
Anti-austerity, socialist policies can be a winning formula
Mass protests rock the globe
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
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
How working-class tenants beat Gentrification
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
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
The Socialist 30 October 2019 |
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