Court tells Teva to pay bonuses it axed
SIPTU has hit out at pharma firm Teva over its decision to axe a 2017 bonus scheme for its workers in spite of its Waterford plant recording post-tax profits of $255m (€225m) for that year.
Siptu stated that the bonus scheme is worth in the region of €1,800 to each worker and that the unilateral decision by Teva to axe the scheme for the second half of 2017 "caused hurt and anger in a workplace that had traditionally enjoyed good, positive relations".
Siptu said it was a case of 'won't pay' rather than 'can't pay'. Over 630 are employed at the plant and Siptu is representing its 350 members in the dispute at the Labour Court. The outstanding bonus scheme payments to Siptu members total €630,000.
Siptu told the Labour Court that the firm recorded profits of $255m in 2017 and the Waterford facility "is the shining light of the company's plants". The bonus scheme has been in place since 2005 and at the end of 2017, Teva announced that, due to severe global circumstances affecting the firm, it was unable to pay what might have been due under the agreed scheme for the second half of 2017. Now, the Labour Court has recommended that Teva pay the outstanding bonus payments for 2017.