Socialist Worker

Rover threat

Issue No. 1711

Workers at Rover are again waiting anxiously for news about their jobs. There are renewed rumours that the company could soon be demanding more job cuts and may even face closure by next spring. This comes just four months after the firm was 'saved' by the Phoenix consortium.

Phoenix boss John Towers received Rover free of debt, with an estimated 60,000 unsold cars thrown in, and interest free loans of £500 million which do not have to be repaid for 50 years.

But it is far from clear that the present plans will make enough profit for Towers and his backers.

Meanwhile workers at the Peugeot plant at Ryton in Coventry returned to work after the holiday this week with talks continuing over a new conditions package which sparked two recent one-day strikes.


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Article information

News
Sat 26 Aug 2000, 00:00 BST
Issue No. 1711
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