Approximately 1,000 workers are in the process of being dismissed in Italy by the UK firm Compass. Demonstrations were held by trade unions in Rome against the decision, which leaves these workers and their families looking forward to a Christmas of misery. In an economy spiralling down the path of Greece at lightening speed the company claimed that it was a decision taken not because of austerity policies but because of a need to `restructure` its business:
As well as the Italian trade unions both the Global Union UNI and the IUF have sent messages of support to the Italian Compass workers. Compass is also signalling a need to `restructure` in Spain.
http://www.uniglobalunion.org/Apps/UNINews.nsf/vwLkpById/C81E4456ED249A22C1257AB50049906C/$FILE/054%20Compass%20mass%20layoffs-en.pdf
As austerity deepens and cuts off any prospect of an investment led recovery, global companies will seek to preserve profit levels at the expense of workers wages and services. Compass UK is one of the biggest companies in the world which even last year recorded profits in excess of 1 billion Euros.
