The Workers Party of Britain denounces the refusal of NSK Europe to budge from its derisory pay offer of 1.6 percent and warmly supports workers at NSK’s two Durham factories who plan to extend their ongoing strike action until 15 May.
With the Retail Prices Index hitting 9 percent and still climbing, the 1.6 percent pay “rise” offered by NSK is in reality a massive pay cut. Yet NSK was able to report gross profits topping £80 million in 2021. Whilst workers get penny lectures from Bank of England boss, Andrew Bailey, about how they should “moderate” their pay demands in the public interest, the millionaire bosses continue lining their pockets unhindered. Andrew Bailey’s own pay packet last year was worth £575,538!
Contrary to Bailey’s view, workers who organise and take industrial action in defence of their jobs, conditions and pay should be applauded for performing a service to their class. As for NSK, the longer its managers dig in their heels in over pay, needlessly provoking strike action, the more they expose NSK to the risk of reputational damage as a favoured supplier of auto spares to the likes of VW, Toyota and Renault. Let NSK take a step back, think again where the company’s best interests lie, withdraw the insulting 1.6 percent “rise” and negotiate a pay settlement worthy of the name.