Princes GMB Pay Dispute Resolved: Workers Secure Wage Increase

Princes Group successfully resolved its long-standing pay dispute with the GMB Union. Workers at Erith and Belvedere sites will receive a 3% wage increase.

Wage Increase and Retroactive Pay

This pay rise follows months of negotiations and will be backdated to April 2024. Employees will receive retroactive pay for the previous months.

Princes Chairman Welcomes the Resolution

Angelo Mastrolia Praises Constructive Negotiations

Princes Chairman Angelo Mastrolia expressed satisfaction with the agreement. He emphasized that this step ensures long-term stability for the company. He also acknowledged the GMB Union for its collaborative approach throughout the discussions.

Princes’ Commitment to Fair Wages

Consistent Pay Increases Over Recent Years

Princes continues to improve employee conditions with above-inflation pay rises. The company implemented wage increases of 8% in 2023, 7% in 2022, and 4.1% in 2021, alongside a 2.5% cost of living adjustment.

Ongoing Negotiations With Unite Union

Unite Rejects 3% Pay Offer

While Princes resolved the GMB pay dispute, talks with Unite Union remain unresolved. Princes offered the same 3% wage increase, but Unite rejected it, causing negotiations to stall.

No Impact on Product Availability

Despite the unresolved discussions, Princes assured customers that contingency plans would prevent disruptions in product supply at affected sites.

Competitive Pressures in the Industry

Balancing Operational Costs and Employee Wages

Mastrolia highlighted the challenges of the competitive food and drink industry. The company faces growing competition from international players and must balance wages with operational costs.

Looking Ahead: Stability and Growth

Ensuring Long-Term Success for Employees and Business

Princes remains committed to supporting its workforce while maintaining business stability. Stay updated on future developments regarding labor agreements and industry trends.

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