Workers deserve a 1% solution
Source: Financial Post - by Drew Hasselback
Published: February 25th 2008
Robert Bouvier, president of
Teamsters Canada, writes in Saturday's Financial Post that it's naive to assume
that mergers and acquisitions do not affect workers.
"To help workers who will suffer the negative effects of mergers or acquisitions, Teamsters Canada proposes that 1% of the value of such transactions be set aside for a five-year period. This amount would, for example, supplement salary losses due to reclassification, pay for training courses for workers who will eventually have to improve their qualifications or their chances to find a new job, supplement retirement separation packages or alternatively, provide psychological assistance to employees affected by their company's merger or acquisition. Depending upon the need, this amount, in whole or in part, could be returned to the buyer at the end of the five-year probation period."