Company’s profit last year was more than £10 billion
Virgin Media O2 (VMO2) may soon face mass disruption after workers voted overwhelmingly to refuse to accept an ‘appalling’ pay offer. Delegates at the Communication Workers’ Union (CWU) annual conference in Bournemouth have today endorsed the decision of VMO2 members, who have rejected a package two pay increases of 3% from April this year and 2% from April 2023 by a towering 95.7% in a consultative ballot.
In the context of inflation (Retail Price Index/RPI) so far this year of 9%, the ‘increase’ would in fact represent a serious real-terms pay cut for VMO2 workers, despite VMO2’s high profitability – the company reported a total transaction-adjusted revenue of £10.38 billion for the 2021 financial year. The conference vote means that the union is ready to take “all means necessary” to achieve a fair deal for its VMO2 members, including potential industrial action.
CWU National Officer Tracey Fussey said:
The cost-of-living crisis has hit VMO2 members like it has hit other workers. And this union will not sit idly by as our members are handed an appalling pay deal that sees their living standards go backwards.
This is a company with a very large public investment strategy, that makes billions in revenue yearly – management can afford to treat its workers with the respect they deserve, they are just choosing not to.
This situation is unprecedented, but VM02 workers will not stand by and be insulted.
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