HE IDEA that low wages makes for job security never had much wards. Within GEC it's a sick joke.
profitable private company, cord which makes them vitalist.
The huge profits accumulated have formed a i's fifth bank.
It has been the ruthless plication of the concept semi-independent profit patres operating under strict financial targets Weinstock which been the base of this ncial success. Unlike Route major mufacturing company, EC nave prevenica lie ration of strong shop wards combine and any er-site negotiating This policy of financial oress or closure at plant rel has blocked the unity confidence of trade on defence cocoracas i defence contracts sticy bag and a 01g SuCk against strongly rganised sites, Weinstock disciplined the trade ions into isolation and rision.
The flip side of this chless approach site ocess has been the forof a toothless NaWUL Joint Consultative ammittee on which naonal union officials drink ba with managers. Market Under the lead of new hairman Lord Carrington remember him?) the drive keep a success haraco.
Tom being a large mpany, the GEC Board its eve on the multina. sockpile and the failed bid market. The • the West German elecral giant AEG are only a retaste of the drive for US electronics inestry.
Such a policy of expanProfits and Workforce of GEC Profit per employee 1974 £704 1979 £2441 1982 £4030 credence amongst shop As Britain's GEC have a the of mountain which now stands at £1,319 million earns £178 million in interest per year. These inpayments have led to the tag that GEC are Brision means the rationalisarecognised the uphill nature of the battle and have prepared for a big Stewards at Preston have planned a huge town based rally aimed at rail for November GEC workers their families. The Tall will be addressed by Sheffield will Will earlier that day have heard their fate from GEC. ON Shildon workers lobby t 'arliament. More closures are on the way
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fifth bank