Two sides to every story!15 Apr 2021 08:14
GMB Union aren't giving facts. They insist Centrica is profitable. It hasn’t been for a few years.... as shown below. All the news articles are not giving their story.
The pandemic also triggered a collapse in global commodity prices, which led Centrica, the parent company of British Gas, to a £1.6bn impairment charge and a full-year pre-tax loss of £577m. That is half the size of last year’s £1.1bn loss, when Centrica also made heavy writedowns.
Centrica’s has lost three-quarters of its market value after its share price plummeted from an all-time high of more than 400p in 2013 to a record low of just over 32p a share last year. The company has crashed out of the FTSE 100, slashed shareholder dividends twice since 2015, and last year promised to cut 5,000 jobs.
Centrica earlier denied the union's claims, with a spokesman saying: "We are modernising the way we work to give our customers the service they want and protect the future of our company and our 20,000 colleagues.
"The vast majority of our employees have agreed to the new terms, which are fair and very competitive. We're not changing base salaries or pensions. Sadly, the GMB continue to say we have cut pay by 15% and this is simply not true.
"Our gas service engineers remain some of the best-paid in the sector, on GBP40,000 a year minimum.
"Some of our engineers who don't currently work a 40-hour week like their other colleagues will be working an additional three hours, and we're increasing their base pay for the next two years to reflect this.
"After this point we're still paying for those hours but through a productivity bonus, which means earnings are uncapped.
"It's now time for all parties to move forward and continue the turnaround of Centrica for our customers' and our colleagues' benefit."
A company spokesman added in a statement to The Guardian: "While change is difficult, reversing our decline, – which has seen us lose over three million customers, cut over 15,000 jobs and seen profits halved over the last 10 years – is necessary."
PLEASE NOTE I DON’T OWN SHARES IN THIS COMPANY SO I HAVE NO CONFLICT IN INTEREST ON THIS MATTER.
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