🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

GSK workers vote to strike over pay dispute

Published 20/04/2022, 14:47
© Reuters. FILE PHOTO: Signage for GlaxoSmithKline is seen on it's offices in London, Britain, March 30, 2016. REUTERS/Toby Melville
GSK
-
UTG
-
GSK
-

(Reuters) - Hundreds of GlaxoSmithKline workers have voted to strike against the drugmaker's pay raise being well below the rate of inflation, British labour union Unite said on Wednesday.

Unite said 86% of its about 700 GSK members voted yes, giving the British company a 48-hour window to improve its pay offer before the strike action is announced.

This is the first time Unite's GSK members have voted for a strike, with the action coming while Britain faces the biggest squeeze on household incomes since at least the 1950s. The country's inflation rate hit a 30-year high of 7% in March.

"We are disappointed that the Unite union has taken the decision to strike, but remain committed to working with them to find a solution," a GSK spokesperson said in an emailed statement.

Unite had rejected GSK's initial offer of a 2.75% pay rise, as well as an increase of 4%, saying it would have still been a pay cut in comparison with the current inflation rate.

"We have offered a 4% increase to base salary, in addition to a one-off award - equivalent to around 2% of base salary - as well as an annual bonus for 2021, which paid out above-target," GSK said.

© Reuters. FILE PHOTO: Signage for GlaxoSmithKline is seen on it's offices in London, Britain, March 30, 2016. REUTERS/Toby Melville

The British drugmaker employs about 3,500 people at its UK pharma manufacturing sites and has a total of 13,000 employees in the UK.

Britain's biggest broadband and mobile operator BT (LON:BT) also faces a possible industrial action over pay for its frontline workers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.