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BDLive reports that the Food and Allied Workers Union (Fawu) is hoping to secure the same sort of treatment for its members as the 1,700 SABMiller managers when the merger with Anheuser Busch InBev (AB InBev) is finalised.
The top brass at SABMiller are set to score a $2.1bn windfall from the accelerated exercise of their outstanding share options once the deal is clinched. The union’s Katishi Masemola wants Fawu members, who are participants in SABMiller’s broad-based black economic empowerment scheme SAB Zenzele, to enjoy the same accelerated treatment as management. He will be meeting AB InBev executives on Tuesday to try to persuade them to bring forward the maturity date and to launch a second BBBE economic empowerment scheme. Another issue that Masemola is keen to resolve is securing an assurance that there would be no deterioration in the conditions attached to jobs post-merger. AB InBev has already committed to security of jobs.
- Read this report by Ann Crotty in full at BDLive
Get other news reports at the SA Labour News home page