Socialist Worker

Jobs massacre: 2,500 march through Newport over cuts

Issue No. 1788

More than 2,500 people marched through Newport on the Isle of Wight last Saturday against 650 job cuts by the multinational GKN. 'Don't let this go without a fight. Don't allow GKN to replace this place with leisure use,' worker Manny Diaz told the rally.

He has been sacked after working for GKN for 28 years . The mass sackings at GKN's East Cowes plant have shocked those living on the small island.

They sparked one of the largest marches the island has ever seen. It shows workers' growing anger against job cuts, as major companies announce cut after cut. British Airways announced another 5,800 job cuts last week, taking the total number axed since September to 13,000.

Oil giant BP is set to cut up to 5,000 jobs, and the Lloyds TSB bank also weighed in with 5,000 job cuts.

Lloyds TSB is still making £3.55 billion profit. BP made £8 billion profit over the last year, making it Britain's most profitable company.

British Airways has also enjoyed a year of making massive profit before its current financial problems.

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Sat 23 Feb 2002, 00:00 GMT
Issue No. 1788
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