Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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200 come in on time then... why work for free and then slate the paymasters?
And by the way, you do yourself a disservice insulting people. It's indicates that you are of dubious character.
Nope. I couldn't work any harder than I work. I actually start 20 minutes early every day . It's up to management to come up with ways of working smarter. They are already making changes here that should improve productivity.
mr 2IQ.... IMPROVING PRODUCTIVITY IS EVERYONES RESPONSIBILITY DO YOU NOT AGREE?
Improving productivity is management responsibility.
Sharetrader10, up until the new CEO took control there was a joint working group that was set up to monitor productivity and keep it on track.
The new CEO sacked the senior management team that were part of the joint working group presumably in order to halt the process this the productivity savings are unknown.
All interesting points - so what's the 4 pillars agreement and which parts have not be delivered? I'm guessing that's what the threat of strike action is about? also RMG PR machine outlines it's points regularly, where the Unions PR machine doesn't say anything other than previous agreements haven't been kept to - not sure what they are other than this 1 hour working week reduction which (I believe) was linked to an increase in productivity, which I'm not sure if that was achieved based upon the recent set of results
Thanks DerekR, I was working on 2bn shares and not 1bn.
Shareholder10, it is also worth noting that RM could easily meet the one hour reduction of the shorter working week by reducing the dividend from 15p per annum to 10p which would raise the £100m that the business has said would be required although it wouldn't necessarily be that savage as I understand that the savings made during the last financial year were in the region of £65m so it would only require a dividend cut of around 2p per annum.
Sharetrader10, the union and employees had a legally binding agreement with the previous CEO. That CEO then retired, the new CEO took over and immediately sacked the previous CEOs staff thereby making progress on the legally binding agreement impossible.
Historically, RM staff have never had any trust in senior management as they have a track record of telling the union and employees what they want to hear then going back on their word thus the employees have traditionally hit back with the threat of industrial action (which incidentally dies not necessarily mean strike action).
This cycle is usually repeated every 3 years or so and long serving RM employees tend to take it in their stride.
It’s not a 16% payrise over 5 years. You could make the argument it’s a 100% payrise over the last 20 years. It’s meaningless *******s. What their offering is a 6% payrise over 3 years commencing in April 2020. 2%/year. What you fail to mention is the many, many strings attached. Notwithstanding that what their offering is in effect a pay cut when inflation is taken into account and less than what managers were given!
The pay offer is a red herring, this dispute is not about money. It’s about negotiating change. Change that was agreed by both sides in the 4 Pillars but renegade on by the new board to appease the institutional shareholders who want to keep up the dividend payments even at the detriment to the companies long term future. It’s greed pure and simple!
Thanks for the replies - the feedback seems at odds with what we released today by RMG, no forced job cuts, pay raise of 16% over 5 years (above inflation), no zero hour or gig economy contracts. I guess the other point is have the unions delivered on their changes as per the previous agreement? productivity is a point I hear a lot
RM want to reduce the working weak but not the working week.
Can any explain why the Unions want to striking? RMG have confirmed a number of key points regarding pay and conditions today, so what's the reason - I'd be disappointed if the reason is they (workers) don't want to modernise the business, as that's crazy against what the competitions is doing