by Keith Richmond
Unite has written to the insurance giant Axa UK to express its anger that while most staff face a pay freeze senior managers are in line to have bonus payments boosted.
Pay proposals for next year, announced by chief executive Nicolas Moreau, could mean that while 12,000 workers will have their salaries frozen, top executives will be awarded big bonuses.
Unite national officer Rob MacGregor said: “We have written to Axa to express opposition on the implementation of a reward and remuneration system which is based around the payment of a bonus with a higher percentage to senior executives. There is no support among our members for the introduction of this unfair and inequitable system.
“Axa should be seeking to give their entire hard working workforce at least a cost of living pay rise – not merely the top bosses massive bonuses. Some Axa staff earn as little as £10,303 per year.”
The union believes the company’s emphasis on a bonus culture is misguided and out of step with public opinion. The proposed bonus scheme will cost £15.5 million while a cost of living increase for all staff would cost half that.
Mr MacGregor added: “The financial sector should be moving towards a transparent and fair reward system, not denying those workers who are delivering Axa customers the highest standards the recognition they deserve.”
