Once again RBI workers find
out about the future of their company from the media over breakfast
unlike their Dutch counterparts. The same thing happened when the
two companies came together to form Reed Elsevier.
Stock Exchange rules have been shown time and
again as just an excuse.
But whereas the previous announcement led to
relative stability this time around the world of work has changed
big time.
RBI has remained the only significant part of
the RE empire to rely upon advertising revenues. And the downturn
in the economic outlook, the price commanded by EMAP and the view
of senior RE management that print is the past and ad sales too
susceptible to market conditions has led them to this decision.
Will
the new owner maintain terms and conditions especially the
redundancy terms?
Will the new owner
maintain the Pension Fund?
Will it even be one
owner or will it be broken up?
Will it involve
relocation/site closures?
Will it be bought just
for titles?
Will new owners axe
titles as they just have at Emap?
Will the new owner(s)
already have finance, administration, marketing and sales
operations?
Will the owner(s) be
publishers or private equity? Private equity takes no prisoners as
we have seen in many well-publicised cases.
The RE CEO Davis has said it might take a long
time to be sold but EMAP did not hang about. And, besides, in the
meantime RE will not be using any capital investment to grow
products in RBI.
In the case of Reed Harcourt last year various
cost-cutting exercises were effected to make the operation more
attractive.
When companies are sold UK laws are renowned
for being some of the weakest in Europe for protecting working
people. It is easier to get rid of people and to reduce terms and
conditions of employment in the UK. The law will assist but you
need to get organised about it now.
Who speaks for the workers’ interests?
Unite does!
Unite has 2 million members with the combined
strength of Amicus the T&G. Terms and conditions of employment
as well as job security are won and lost in the workplace not
courtrooms. Get organised and join Unite today.
For more information contact: Jamie Major,
Unite Organiser, tel: 07879 692021, jamie.major@unitetheunion.org
