Grangemouth is currently shut down and will remain shutdown whilst the workforce is consulted about the future

abarrelfullabarrelfull wrote on 21 Oct 2013 06:58
Tags: europe ineos refinery uk

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INEOS Grangemouth is today commencing direct consultations with employees on the changes to pensions and terms & conditions at the site that will secure their future

The company is going directly to its employees because the Unite trade union has repeatedly refused to engage on these crucial issues.

The proposed changes have already been highlighted in the company’s Survival Plan and would mean that in future employees would

  • be offered a top quality money purchase pension scheme to replace the unaffordable final salary scheme
  • receive a transition payment for pension change of between £2,500 and £15,000 depending on service
  • maintain their top quartile salary (typically £55,000 per year)
  • have a more modern approach to work place representation

Calum MacLean, INEOS Grangemouth (UK) chairman, says, “This is D Day for Grangemouth. The site is safely closed whilst we consult the workforce. If we can get the changes we want, the company has committed to investing a further £300 million in the site which will help secure its long term survival”.

The shareholders have expressed extreme concern that the industrial action over recent days has cost the site £20 million at a time when losses are already £10 million per month. The site cannot afford this; hence the urgent need for employees to decide to support the company.

Calum MacLean, INEOS Grangemouth (UK) chairman, says, “We are going to give our employees a few days over the weekend to reflect on our proposals and then get their feedback. This feedback will be critical in influencing the shareholders in their decisions about what to do next”.

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