February 17, 2009
Media Release__

F&P bailout must have strings attached - EPMU

The Engineering, Printing and Manufacturing Union says any Government bailout of Fisher & Paykel must be attached to commitments to New Zealand and its workforce.

The call comes after Prime Minister John Key floated the idea of helping the whiteware company through the recession if needed.

EPMU national secretary Andrew Little says Government support would be welcome.

“As a major employer Fisher & Paykel should receive help if it needs it at this time but any support should come with a proviso that the company show a greater commitment to keeping jobs in New Zealand.

“Any taxpayer bailout should also come with some public equity in the company, otherwise it’s a situation of privatising the profits in the good times and socialising the losses in the bad.

“It also needs to be recognised that while companies like Fisher & Paykel are facing hard times the greatest personal costs will be faced by workers during this recession.

“If the government is willing to put money into privately run businesses then it should be equally willing to provide workers with security and protection in the form of minimum redundancy, investment in training and maintenance of work rights.”

The EPMU represents 45,000 working New Zealanders including more than 600 in Fisher & Paykel’s appliances division.

ENDS

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