Nearly 200 workers employed by SPS Technologies in Leicester are set to commence strike action later this month, according to Unite, the union. The shopfloor workers, responsible for producing specialized nuts, bolts, pins, screws, and collars for the aerospace and defense industries, have turned down a two-year pay increase of seven percent along with a £400 one-time payment. Some of these workers are currently earning minimum wage and are advocating for a substantial pay raise. SPS Technologies is a part of Precision Castparts Corp (PCC), which reported revenues of $9.3 billion in 2023. PCC is owned by Warren Buffet’s Berkshire Hathaway, which holds cash reserves amounting to $277 billion.
In a statement, Unite general secretary Sharon Graham emphasized that “Low paid SPS workers have endured years of below inflation salary increments and have reached a breaking point. SPS is under the umbrella of an exceedingly affluent corporate entity and can certainly afford to propose a fair pay hike. Unite offers full support to its SPS members engaging in the planned strike action.”
The all-out indefinite strike at SPS Technologies’ Barkby Road facility is scheduled to kick off on 21 August. These strikes will have repercussions on the supply chains for key clients such as Airbus, Rolls-Royce, Avio Aero, Leonardo, GKN, and BAE. Unite regional officer Lee Purslow added, “SPS’ clients are unlikely to be pleased with the disruptions in their supply chains due to the company’s reluctance to adequately compensate its employees. While industrial action could still be averted, SPS must present an offer that meets the approval of our members.”
