Early Response to Grangemouth Survival Plan "Extremely Positive"

Early Response to Grangemouth Survival Plan "Extremely Positive"

INEOS Grangemouth (UK) has today announced that the early responses by employees to its Survival Plan have been extremely positive.
The company sent out a letter on Thursday to all 1350 workers at the site asking them to indicate their support or rejection of the company’s plan by 1800 on Monday, 21st October
As at the end of Saturday, 19th October, over 250 positive responses to the Survival Plan had been received.
Calum MacLean, chairman INEOS Grangemouth (UK) says, “Whilst it’s early days, the initial response to the Survival Plan has been pleasing. We weren’t expecting many returns before Monday so we are taking this is a positive development.”
The letter outlines the key components of the Survival Plan which includes employees switching from the existing hugely expensive final salary pension scheme to a still generous money purchase scheme plus various changes to terms and conditions. Basic pay is not affected.
Those who support the Survival Plan at this stage will receive a transitional payment of up to £15,000 which they can use as they wish plus an enhanced employer contribution to their money purchase pension scheme.
Calum MacLean, chairman INEOS Grangemouth (UK) adds “Given the intimidatory tactics of the Unite trade union which now includes picketing outside employees homes, it is very gratifying that so many workers have been willing to show their support this early on.”
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