Global Payments Inc. announce net revenues of $1.7 billion for first quarter of 2020 but threaten Northern Ireland workers with redundancy

img_5660Management claims that the Covid-19 pandemic ‘significantly and negatively impacted’ their business is belied by bumper quarterly returns

Global Payments Inc is a global US-headquartered company operating in the payment technology and software sector with offices in Belfast and Derry/L’Derry as well as sites in Dublin, Coventry and Milton Keynes.

Kevin McAdam, Unite Regional Officer for employees at Global Payments Inc., railed at the callous approach of management at the company after they threatened to make workers based at its sites in Northern Ireland redundant.

“Unite members at Global Payments Inc. have been threatened with redundancy at the very same time as the company announced it made more than $1.7 billion in net revenues for the first quarter of 2020. 

“The threat to these workers’ livelihoods is the height of corporate greed. On the back of its burgeoning profits, the company told the markets that they were pursuing at least a further $350 million in ‘annual run-rate expense synergies’ from their merger with TSYS – the former employer of these workers.

“The company initially asked their employees in Northern Ireland – who are already among the lowest paid – to take a 10 percent cut in wages and then proceeded to hold the vote again as they did not get the response they wanted the first time. Management has now said that they will need to make workers redundant; however the company continues to recruit (mostly in its US operations). 

“They have sought to justify the redundancies by claiming that the Covid-19 pandemic ‘significantly and negatively impacted’ their business and their customers but this excuse is belied by today’s bumper quarterly returns and their open plans for ‘synergies’ from their acquisition of TSYS.

“Members are rightly concerned that they don’t appear to have considered furloughing workers under the government scheme and this has caused additional anxiety amongst those who have been identified at risk. They have identified four groups of roles which are at risk of redundancy.”

Mr McAdam has contacted the company seeking to discuss the potential redundancies as a matter of urgency but the company has refused on the grounds that it would be improper to discuss any confidential matters with a union representative given that there was no agreement with Unite and their business in Belfast.

“I have responded to that refusal suggesting, amongst other things, that there is a legitimate expectation from their employees that they will consult with the trade union on means to mitigate redundancies. We are awaiting their reply”, Mr McAdam concluded.

 

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