Labour Court recommends joint review of Nexans finances over disputed 4% payment

The Labour Court recommended that Nexans Ireland Limited and the Services Industrial Professional Technical Union jointly examine the company’s finances over a disputed 4% Programme for Prosperity and Fairness payment. The recommendation was dated 28 January 2003. The union said the payment, due from September 2002, had not been made. The company cited serious financial difficulties and said it saw no prospect of paying before 2004. The Court recommended a partnership approach, with the review completed within two months. If the parties did not agree, it said it would issue a definitive recommendation.