Do you know the company I work for?? Have you seen any of its financial figures??

Our parent company has just paid off several hundred million pounds worth of debt and also raised hundred of millions by selling some shares it had in another company.

My company has paid £300million in cash back to the parent company and we have an order book somwhere in the region of several hundred million and prior to any announcement on redundancies had a forecast profit in excess of £100million.

Does that sound like a company in trouble?

Now perhaps you can stop putting words in my mouth and stop your petty insults.

on now

Are you sure, really really sure that your company didn't ask to defer the payment or to make it in milestones X months apart?

The reality is that it's unlikely that any credible company would shed 1200 of 6000 staff and repay a loan of £300M without having very little alternative. The £100M operating profit figure is a red herring also unless you can tell us the turnover.

Is it possible that the parent company may have needed the £300M to repay a loan that they had taken or could one of the supporting financial institutions called in a debt to reduce thier financial burden? Stories like this are never isolated and are frequently long and complex, but don't let that stop you.

You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know

Quote: McLaren_Field "You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know Not sure if you were being sarcastic or not but what about Suma started in Leeds and £24 Million turnover and the rest just for the record. www.cooperatives-uk.coop/live/im ... view09.pdf

Quote: McLaren_Field "You speak like you expect the shopfloor worker to understand the complex financial structures of the company and parent company that they work for - there is a reason why not many workers co-operatives make it beyond the small business level you know Not sure if you were being sarcastic or not but what about Suma started in Leeds and £24 Million turnover and the rest just for the record. www.cooperatives-uk.coop/live/im ... view09.pdf

You could also include the John Lewis Partnership for good measure.

None of which distracts from the point, your average Co-op or JLP shopfloor worker has the first clue of what goes on in the boardroom and the only entry in the annual accounts that they are interested in is the word "dividend"