Refounding Granada
Article Abstract:
UK company Granada's acquisition of Forte Hotels may lead to increased use of competency-based and merit-based pay within the restructured company. The current compensation plan calls for bonuses for hotel management, competency-based pay increases for restaurant personnel, and a general pay raise for manual workers. The four-phase restructuring will include managerial downsizing and development of profit-improvement plans for each of the four main divisions in the revised business structure.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
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Pay pressures set to weaken
Article Abstract:
UK pay settlements are likely to move downward later in 1996, as inflation continues to fall. Wage settlements remained at 3.5 in Mar 1996, a six-month trend, and fewer settlements are coming in over 4%. The April wage round is unlikely to increase overall wage pressures. The stalled economic recovery, low inflation, and uncertainty regarding manufacturing jobs will cause upward wage pressures to lessen and settlements to remain at 3.5% or move lower.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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