Unions and Profitability: The Case of NEXT
Despite announcing record profits, fashion giant NEXT suddenly closed its only unionised factory in Sri Lanka, citing "increasingly high operating costs" and inability to make the factory economically viable.
The decision was made via WhatsApp, without consultation with trade unions, and came shortly after the company reported a £1.08 billion profit and approved shareholder dividends worth up to £99 million.
Trade unions are calling on UK shoppers to rethink where they spend their money this Christmas.
- The factory closure occurred just weeks after workers secured a modest pay rise, worth less than £10 a month.
- Improvements to grievance procedures and harassment protections were also made following a long campaign.
Author's summary: NEXT shuts unionised factory despite record profits.
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