An open letter to all Arrium/Onesteel employees
As final bids closed this week for the fire sale of Arrium Australia
You have a simple choice…
Accept an uncertain future with an overseas owner and accept a “slash and burn approach” with widespread redundancies and reduced EA and staff entitlements (minus 10%).
Or
Pressure your union and employee representatives on the creditors committee to reject the preferred bid and support the ASU recap proposal. This will protect jobs and position unions to negotiate progressive EAs that reflect the business turn around (plus 6%).
Ask Whyalla/SMR employees how they feel now, about being pressured to accept a 10 percent wage reduction last year, when iron ore/steel prices have increased by 40% since October?
ARI Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
