Staff at the Financial Conduct Authority (FCA) are voting on whether or not to take industrial action in an indicative ballot call by Unite, following claims “management has refused to negotiate”.
The union accuses management at the UK financial regulator of embarking on a programme of "severe cost-cutting", which is set to turn the FCA into a "bargain basement regulator". This programme includes cutting staff pay by 10-12% and imposing an appraisal system that "punishes strong performers", while the FCA has also recently refused to allow staff representation by an independent trade union. Other key concerns raised by Unite in its statement include: a "botched" consultation process in order to rush through changes, staff outside London being placed on lower pay scales and plans...
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