GMB Union has demanded assurances for Asda workers after its recent takeover could land the profitable company with billions of pounds worth of debts
New owners the Issa brothers have reportedly borrowed £3.5bn to finance their £6.8bn takeover of Asda.
The news follows the announcement that Asda’s petrol forecourt business was acquired for £750m.
Roger Jenkins, National Officer, GMB, commented that Asda workers have had a “gruelling two years”.
Jenkins relayed that between the “failed” Sainsbury’s contract, the “enforced changes” to their terms and conditions and now a year of working on the frontline during the pandemic – “the last thing they need is more uncertainty”.
He said: “GMB demands assurances that this multi-billion pound debt will not endanger their livelihoods now or into the future.
“Asda is a profitable company that does not need to be loaded with debt. The Issa Brothers need to show some appreciation for the workers who make the Asda empire what it is and give assurances on their future employment and their future pay and conditions.”