"Towards 2016" or "Towards Nationalised Profit Sharing Schemes"

superhooper

Just wondering what people think of the recent ruling from the labor court e.g. Bord Gais, which states that companies must honor the Towards 2016 pay increases. They can only back out if they can plead an inability to pay.
http://www.sbpost.ie/news/bord-gais-staff-to-get-35-pay-rise-46387.htmlhttp://www.sbpost.ie/news/bord-gais-staff-to-get-35-pay-rise-46387.html

Will this situation hamper the goal of making the economy more cost efficient?

Have we now adopted a system where if a company makes a profit some of this profit must be distributed to the employees?

dresden8

We haven't "now" adopted anything.

This was always part of national wage agreements, only "now" has the employer decided to weasel out of them. Except in powerful semi-states where artificial profits are maintained.

And the banks of course.

dresden8

......

superhooper

dresden8 wrote: »

We haven't "now" adopted anything.

This was always part of national wage agreements, only "now" has the employer decided to weasel out of them. Except in powerful semi-states where artificial profits are maintained.

And the banks of course.

Fair enough on the "now" part but the question remains as to whether this system should still be maintained in a period of severe economic difficulty.