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29/01/2010 - Cadbury - loss of an 'institution'?

altA company synonymous with British industry, Cadbury looks as if it will fall into foreign hands with the inevitable 'rationalisations'.

 

The American company Kraft Foods have put in a £11.9bn offer and after the withdrawal of the only competitor hope to convince at least half of the shareholders, and thus the company, to back their bid.

 

If Kraft are successful Cadbury will join a growing list of iconic British companies to fall under foreign multi-national ownership eg. Land Rover, Jaguar, Alliance & Leicester and ICI.

 

Unfortunately Kraft are already talking about a 'cost saving plan' i.e. cutting jobs. Being foreign owned it is inevitable that centralised functions such as IT, Accountancy etc are likely to be kept in the US with only token workforces in the UK.

 

However over 30,000 workers in the UK and Ireland rely upon a Cadbury salary and job cuts may even be extended to various shopfloors e.g in Birmingham and Somerdale. 

 

Solidarity General Secretary Patrick Harrington said "This take over is frustrating for workers as they wait for investors – who only have their own interests at heart – to decide what to do with their money. The workforce are powerless" 
 

He added "This big money take-over of Cadbury also illustrates what is wrong with the whole capitalist system.  It doesn’t matter if it’s ‘national’ capitalists, ‘international’ capitalists or state capitalists  – who run a particular company.  The result is always the same - the workers have no real sense of ownership or control of that company."

 

"This sense of belonging and real power will only come about when owners work and workers own. This will only come when Britain's large scale companies and factories are run as co-operatives, workers' Trusts or on national syndicalist lines."

 
END
27/01/10
Contact: Patrick Harrington (Solidarity General Secretary) 07794 486858
or solidarity@aol.com & http://www.solidaritytradeunion.org
Press Release (sol42press) distributed by Accentuate - PR Company Contact: accentuatepr@yahoo.co.uk