The International Union of Food, Agricultural, Hotel, Restaurant, Catering, Tobacco and Allied Workers' Association (IUF) published a guide to help its members negotiate with the investment funds which buy out the sector's companies. However, the advice can be used for other branches. (Ref. 080108)
The union organization reveals that “leverage purchases (indebtedness) remain the main method to suck profits in an acquisition by a private investment fund. The company’s financial structure is then changed. Staff representatives, when exercising their right to information-consultation and collective bargaining, must have access to the financial accounts which would be available in accordance with the disclosure rules applicable to companies listed on the stock market, and get “true, plausible
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