Literally the worst possibly timing as well, I hope they strike.
Good luck with that Asda as the employment market goes apeshit
You just wait once we are freed from the EUSSR Diktats and repel all employees’s rights.
the anti growth coalition strikes again.
As a woke, liberal, Remain voter, and a high up member of my local chapter of the AGC, I would like to aplogise to workers for this 😉
oh no hang on my mistake, this was big business, cutting wages. Im sure the Tories will tell them to change it back, because they care so much about increasing workers wages.
[removed]
Not surprising as the new owners are just using ASDA to pile on dept.
“Brothers Mohsin and Zuber Issa and private equity firm TDR Capital are set to acquire the supermarket chain Asda in what will be the UK’s biggest leveraged takeover in more than a decade. The Issa Brothers and TDR Capital will pay just £780 million in cash for Asda, which is valued at £6.8 billion, with the majority to be funded by debt deals and asset disposals.”
“Issa brothers pile another £500m of debt on to Asda after petrol stations sale falls through”
“Issa brothers, TDR Capital to acquire Asda in highly-leveraged takeover”
“As a result of the £4.06 billion of debt used to finance the takeover, Asda has paid £202 million of interest on external debt, £106 million on lease liabilities, £56 million on intercompany loans and £2 million of additional undisclosed interest payments, according to documents filed at Companies House.” 20 Jun 2022
They want people to go to the shops, they will buy more stuff they don’t need by walking through the shops
It’s a bold move Cotton, let’s see how it works out for them.
The answer to that is? Don’t work for Asda! If enough drivers leave they’ll be forced to do a u-turn
This is obscene.
£10.30 an hour is bad enough (I don’t know how people can afford to work for that if they have a family), but cutting wages?
Fuck you, Asda.
I dont shop at Asda much now, i always feel like theyre ripping me off. Shelves empty of cheaper products but full of premium ones and price rises far higher than they should be. Also long queues at the checkouts because most are closed.
It didn’t work because its not enough money, and frankly asda are absolutely the 2nd worst company I’ve worked for. I changed from asda driving to another company and my base rate is higher than their “premium” rate. Much better working culture and practices too.
Can’t imagine that will go well for Asda – it’s like there’s no shortage of jobs atm
Down from a temporary premium rate in certain areas
Almost shat myself, there
Well Asda’s new owners have to find some way to pay off it’s £3.5B debt. After they sold off assets like warehouses and petrol stations in order to purchase the business in the first place!
These poor bastards don’t even have air conditioning in their vans. I always chat to our drivers and during the heat wave they were given some free water.
Wow.
Add in the 11% inflation rate and you’re at 23% net loss per year for those in question. Shameless.
It’s a shame as I just started using Asda for home delivery as Morrisons prices have gone stratospheric (and usually the orders are missing 20% of the items), Tesco have a limited selection where I live, but Asda actually have been brilliant. But I won’t use them if this is going on – I’ll switch back to Tesco or maybe try Sainsburys.
For context, the hourly rate for tesco delivery drivers is changing to £11.20 p/h in the next few weeks
Then will ask their customers to be patient as they are short of staff and nobody wants to work. I wonder where have I seen this before…
When I worked at Asda I’m pretty sure most of the drivers were already on close to minimum wage so kinda takes the piss
Hope they either unionise and strike, or manage to find better jobs.
Even if this was sold as a temporary premium, they promised it until at least Christmas.
Cutting staff pay in the run up to Christmas is cruel.
(And yeah I do consider now to be the run up to Christmas as I reckon this year a lot more people are going to try and spread the cost of Christmas and start stocking up on things like chocolate and stocking fillers pretty soon, if not already)
No longer “key worker”, just “worker”. Here’s your pay cut, see you tomorrow at 6am!
The Issa brothers and TDR capital buyout of Asda never looked good in the first place.
It was a [leveraged buyout ](https://www.google.com/amp/s/www.bbc.co.uk/news/business-56085128.amp) meaning they didn’t even have the money to buy it – that would be borrowed against Asda and put onto Asda’s debts.
These should be illegal imo, they’ve ruined many businesses in America with Sears being the most infamous one.
Why it’s even legal to borrow against a company you don’t even own in order to buy said company is beyond me.
I guess you could compare it to a mortgage, but it would be like your house taking on all of the debt and you being liable for none of it.
What happens is the acquired company has to pay back debt and ends up making cut backs to pay for it all, then losing customers because its products and stores are shit.
Once the company folds the private equity firm just washes their hands of it and walks away.
They already sold off some garages and distribution warehouses, they’ll sell off the stores and rent them back next.
Cuts to pay will be a part of it too, and ever so slowly Asda will become a little bit more crap each time.
Ah yes the brilliant strategy of cuttingwages when labour supply is low and demand is high q
Any delivery driver who accepts this pay cut and remains at Asda should be ridiculed. There is a shortage of delivery drivers in this country, you will easily find another and better paying job.
Funny, there was a post on here a few days ago about ASDA providing cheap drinks and rolls to OAPS. The Lords of Capital giveth, and they taketh away.
“Essential workers” suddenly being treated as disposable again
I as a freelance courier made £19/h on sunday — These people will just quit and find better work.
I’m a asda delivery driver and I’ve kept seeing articles about this pay drop. If I see on my next pay check that my rate has gone down (below £10.10) then I will be definitely looking for somewhere else.
No managers, news letter, or announcement has been made to me or any of my colleagues. The store I work at the managers are completely inept at their jobs. I can easily see if people leave the driving job then the store I work at will go under.
I’ve done delivery defining a few times and I’ve never wanted to stay there long enough to warrant arguing about pay.
If it were me working for them, I’d simply leave and do the same job elsewhere, or most likely find something better to do.
It’s all about the profit,fuck the people actually doing the work
I work at Asda as a delivery driver. First I’m hearing of this. Can’t say I’m suprised though. Communication has always been shite there
We never shop there now. Blue Light Card never works to give the 10% off.
“Rung it through now, sorry theres nowt we can do once it’s rung through”
ASDA is ran by a bunch of two greedy fucking cunts now that walmart gave away ownership. They’ve cut admin staff, cleaners and porter at the asda near me and shoved all the work on the service and warehouse staff without a pay rise.
Used ASDA loads at my old place. Drivers were always reliable and an absolute pleasure to deal with.
So yeah… fuck ASDA.
…and they’ll still want me to use their service? I don’t think so. You should be giving a 12% raise not pay cuts.
Meanwhile all the other supermarkets keep increasing their wages and are desperate for staff.
Let’s see how this plays out for Asda.
I can see the comments from Asda in couple month’s time “we have to cancel deliveries to struggling households because of the driver shortage” followed by “the problem is nobody wants to work anymore” 😭
Why wouldn’t they? They can just do what all the other supermarkets (and many other businesses) do. Not pay a living wage and get the taxpayer to make up the rest through UC. It’s got to the point where the system is so broken they might as well pay a living wage and the taxpayers just pay a percentage of their taxes directly to business owners/shareholders. That’s where your taxes end up anyway so might as well cut out the middleman and get rid of a few more jobs while they are at it 🤷♂️
They’ll cry in 6 months time that “no one wants to work”
41 comments
Literally the worst possibly timing as well, I hope they strike.
Good luck with that Asda as the employment market goes apeshit
You just wait once we are freed from the EUSSR Diktats and repel all employees’s rights.
the anti growth coalition strikes again.
As a woke, liberal, Remain voter, and a high up member of my local chapter of the AGC, I would like to aplogise to workers for this 😉
oh no hang on my mistake, this was big business, cutting wages. Im sure the Tories will tell them to change it back, because they care so much about increasing workers wages.
[removed]
Not surprising as the new owners are just using ASDA to pile on dept.
“Brothers Mohsin and Zuber Issa and private equity firm TDR Capital are set to acquire the supermarket chain Asda in what will be the UK’s biggest leveraged takeover in more than a decade. The Issa Brothers and TDR Capital will pay just £780 million in cash for Asda, which is valued at £6.8 billion, with the majority to be funded by debt deals and asset disposals.”
“Issa brothers pile another £500m of debt on to Asda after petrol stations sale falls through”
“Issa brothers, TDR Capital to acquire Asda in highly-leveraged takeover”
“As a result of the £4.06 billion of debt used to finance the takeover, Asda has paid £202 million of interest on external debt, £106 million on lease liabilities, £56 million on intercompany loans and £2 million of additional undisclosed interest payments, according to documents filed at Companies House.” 20 Jun 2022
They want people to go to the shops, they will buy more stuff they don’t need by walking through the shops
It’s a bold move Cotton, let’s see how it works out for them.
The answer to that is? Don’t work for Asda! If enough drivers leave they’ll be forced to do a u-turn
This is obscene.
£10.30 an hour is bad enough (I don’t know how people can afford to work for that if they have a family), but cutting wages?
Fuck you, Asda.
I dont shop at Asda much now, i always feel like theyre ripping me off. Shelves empty of cheaper products but full of premium ones and price rises far higher than they should be. Also long queues at the checkouts because most are closed.
It didn’t work because its not enough money, and frankly asda are absolutely the 2nd worst company I’ve worked for. I changed from asda driving to another company and my base rate is higher than their “premium” rate. Much better working culture and practices too.
Can’t imagine that will go well for Asda – it’s like there’s no shortage of jobs atm
Down from a temporary premium rate in certain areas
Almost shat myself, there
Well Asda’s new owners have to find some way to pay off it’s £3.5B debt. After they sold off assets like warehouses and petrol stations in order to purchase the business in the first place!
These poor bastards don’t even have air conditioning in their vans. I always chat to our drivers and during the heat wave they were given some free water.
Wow.
Add in the 11% inflation rate and you’re at 23% net loss per year for those in question. Shameless.
It’s a shame as I just started using Asda for home delivery as Morrisons prices have gone stratospheric (and usually the orders are missing 20% of the items), Tesco have a limited selection where I live, but Asda actually have been brilliant. But I won’t use them if this is going on – I’ll switch back to Tesco or maybe try Sainsburys.
For context, the hourly rate for tesco delivery drivers is changing to £11.20 p/h in the next few weeks
Then will ask their customers to be patient as they are short of staff and nobody wants to work. I wonder where have I seen this before…
When I worked at Asda I’m pretty sure most of the drivers were already on close to minimum wage so kinda takes the piss
Hope they either unionise and strike, or manage to find better jobs.
Even if this was sold as a temporary premium, they promised it until at least Christmas.
Cutting staff pay in the run up to Christmas is cruel.
(And yeah I do consider now to be the run up to Christmas as I reckon this year a lot more people are going to try and spread the cost of Christmas and start stocking up on things like chocolate and stocking fillers pretty soon, if not already)
No longer “key worker”, just “worker”. Here’s your pay cut, see you tomorrow at 6am!
The Issa brothers and TDR capital buyout of Asda never looked good in the first place.
It was a [leveraged buyout ](https://www.google.com/amp/s/www.bbc.co.uk/news/business-56085128.amp) meaning they didn’t even have the money to buy it – that would be borrowed against Asda and put onto Asda’s debts.
These should be illegal imo, they’ve ruined many businesses in America with Sears being the most infamous one.
Why it’s even legal to borrow against a company you don’t even own in order to buy said company is beyond me.
I guess you could compare it to a mortgage, but it would be like your house taking on all of the debt and you being liable for none of it.
What happens is the acquired company has to pay back debt and ends up making cut backs to pay for it all, then losing customers because its products and stores are shit.
Once the company folds the private equity firm just washes their hands of it and walks away.
They already sold off some garages and distribution warehouses, they’ll sell off the stores and rent them back next.
Cuts to pay will be a part of it too, and ever so slowly Asda will become a little bit more crap each time.
Ah yes the brilliant strategy of cuttingwages when labour supply is low and demand is high q
Any delivery driver who accepts this pay cut and remains at Asda should be ridiculed. There is a shortage of delivery drivers in this country, you will easily find another and better paying job.
Funny, there was a post on here a few days ago about ASDA providing cheap drinks and rolls to OAPS. The Lords of Capital giveth, and they taketh away.
“Essential workers” suddenly being treated as disposable again
I as a freelance courier made £19/h on sunday — These people will just quit and find better work.
I’m a asda delivery driver and I’ve kept seeing articles about this pay drop. If I see on my next pay check that my rate has gone down (below £10.10) then I will be definitely looking for somewhere else.
No managers, news letter, or announcement has been made to me or any of my colleagues. The store I work at the managers are completely inept at their jobs. I can easily see if people leave the driving job then the store I work at will go under.
I’ve done delivery defining a few times and I’ve never wanted to stay there long enough to warrant arguing about pay.
If it were me working for them, I’d simply leave and do the same job elsewhere, or most likely find something better to do.
It’s all about the profit,fuck the people actually doing the work
I work at Asda as a delivery driver. First I’m hearing of this. Can’t say I’m suprised though. Communication has always been shite there
We never shop there now. Blue Light Card never works to give the 10% off.
“Rung it through now, sorry theres nowt we can do once it’s rung through”
ASDA is ran by a bunch of two greedy fucking cunts now that walmart gave away ownership. They’ve cut admin staff, cleaners and porter at the asda near me and shoved all the work on the service and warehouse staff without a pay rise.
Used ASDA loads at my old place. Drivers were always reliable and an absolute pleasure to deal with.
So yeah… fuck ASDA.
…and they’ll still want me to use their service? I don’t think so. You should be giving a 12% raise not pay cuts.
Meanwhile all the other supermarkets keep increasing their wages and are desperate for staff.
Let’s see how this plays out for Asda.
I can see the comments from Asda in couple month’s time “we have to cancel deliveries to struggling households because of the driver shortage” followed by “the problem is nobody wants to work anymore” 😭
Why wouldn’t they? They can just do what all the other supermarkets (and many other businesses) do. Not pay a living wage and get the taxpayer to make up the rest through UC. It’s got to the point where the system is so broken they might as well pay a living wage and the taxpayers just pay a percentage of their taxes directly to business owners/shareholders. That’s where your taxes end up anyway so might as well cut out the middleman and get rid of a few more jobs while they are at it 🤷♂️
They’ll cry in 6 months time that “no one wants to work”