Unite the Union

Unite the Union

November 12, 2007 05:49 ET

Unite reaction to Standard Life pull out of Resolution bid

LONDON, UNITED KINGDOM--(Marketwire - Nov. 12, 2007) - Unite Britain's biggest trade union will today (Monday 12th November) accuse Standard Life's CEO, Sandie Crombie of amassing a catalogue of blunders since the company floated on the stock market.

The union claims that Standard Life has damaged its reputation and undermined its position as a leading light in the insurance market since it floated on the stock market.

Unite the union which represents hundreds of staff at the company believes Standard Life's mistakes range from its approach to the attempted merger with Resolution, to reducing its staff's pension benefits and taking a hostile approach to hundreds of staff calling for independent trade union recognition.

The union is running a campaign to tell staff who are not already a member of Unite that the company needs an independent, accountable trade union which has the right to negotiate on their behalf.

Unite, Deputy General Secretary, Graham Goddard says,
"E-bay is a great way to auction your personnel property but this approach should not be tried by CEO's trying to acquire a multi-billion pound financial services company.

"Standard Life has damaged its reputation and undermined its position as a leading light in the insurance market. It has alienated its staff by downgrading their pension scheme and has refused to listen to their calls for an independent trade union."

The failure of Standard Life's bid for Resolution means the company could well become a target for a takeover itself. Senior management would no doubt benefit financially but the job security of rank and file staff will be at risk.

Contact Information

  • Unite Press Office
    Saba Mozakka
    020 7420 8916 or 07768 693 953