Unite the Union

Unite the Union

October 05, 2007 08:01 ET

Unite Says 'Safeguard Jobs' As The Battle For ABN Draws To A Conclusion

LONDON, UNITED KINGDOM--(Marketwire - Oct. 5, 2007) - Unite Britain's biggest union will today call on the RBS consortium to honour its commitment to safeguard workers' jobs in the event that their hostile bid for ABN Amro goes ahead.

The union will also be looking to continue its positive relationship with Barclays and has cautiously welcomed its assurances on growth.
The consortium of RBS, Fortis and Santander are now expected to succeed in their 70billion Euro cash and shares offer for ABN the Dutch-based bank following a six month battle with Barclays. The consortium has already signalled that up to 19 000 jobs will go if their take over is successful.

In recent weeks Unite was of the view that Barclay's would withdraw their bid for ABN Amro.

Unite Deputy General Secretary, Graham Goddard says,
"We give a cautious welcome to the assurances on growth given by Barclays in their statement today, in what is an uncertain time throughout the Industry. We will be looking to continue developing our positive relationship with Barclays in the UK, and elsewhere, particularly with a view of realising a global framework for trade unions throughout the world where Barclays operate.

Senior Union officials will be meeting Barclays senior management next month in London to discuss future developments."

" Unite will be holding the RBS consortium to account on its worker commitments. We have told the banking consortium which plans to break up ABN-Amro, that the international trade union movement will hold them to account over their commitments to safeguard workers jobs following the hostile takeover.

We have welcomed the banks' commitments to the combined workforce but these employers will be judged by what they actually do to ensure those commitments are honoured in full."

The consortium has already published a 9 point plan outlining its so-called 'People Principals'. (see note to editors)

Notes to editors

The Consortium People Principles

The expertise and experience of ABN AMRO people are a key reason why its businesses are so attractive. We are successful because our people are talented, motivated and rewarded. We want the same for the staff of ABN AMRO who join us. Our People Principles underpin our approach to people in this deal and will apply across the board.

The People Principles will apply to all employees of the combined businesses (Consortium & ABN AMRO) and support the way in which we create stronger businesses with enhanced growth prospects.

1.It is the Banks' firm intention that job losses will be managed through voluntary measures, including natural turnover, redeployment and voluntary redundancy.

2.There will be no forced dismissals in the Netherlands. Departure through the social plan is not considered to be a forced dismissal.

3.The Consortium will not take initiatives of any significance in terms of the off-shoring of activities as a result of this transaction.

4.Existing Social Plans and Collective Labour Agreements will be honoured.

5.The Banks' commit to continue working constructively with works councils, trade unions and other representative bodies.

6.It is the Banks' firm intention to actively retain individuals in key roles across the transaction, to ensure business continuity.

7.Retention of the best talent will be done through a fair appointment process based on merit and competencies, and in compliance with legal obligations.

8.An employment office will be created to identify and manage redeployment opportunities for staff across the operations of the banks, within the Netherlands and other appropriate territories.

9.For the purposes of re-organisation and separation, employees will follow the business unit where they are currently employed.

Contact Information

  • Ciaran Naidoo
    07768 931 315