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Pay bonanza for fat cats who axed 300.

Fat cat bosses who sold textile workers down the river are creaming off the profits.

Alexandra Workwear will put about 300 Scots workers on the dole - to move to a Moroccan sweatshop.

The Bristol-based firm say profits have fallen. But their top directors last year awarded themselves average salaries of more than pounds 100,000.

And chief executive John Prior also got incentive shares worth pounds 330,000.

In 1996, Alexandra Workwear's "higher paid" directors earned an average of pounds 103,500.

That's an inflation-busting 7.5 per cent rise on the 1995 figure of pounds 96,200.

Top earners are Prior, his wife Alice, who is marketing director, finance boss Julian Budd and production chief Marion Cox.

Prior also owns 656,000 ordinary shares and 364,480 incentive shares - currently worth a total of pounds 928,000.

Last night, Budd said: "I am not going to discuss the directors' salaries."

He said they were "irrelevant".

But Frank Mundie, of the GMB union, said: "I can only imagine the reaction of the workforce when they hear this.

"They're still getting over the shock of the job losses."

Alexandra said on Monday they were quitting Coatbridge, Lanarkshire.

Production will switch to a Moroccan factory, where staff - many of them teenage girls - are paid little more than 50p an hour.

The firm say profits are down from pounds 5.3million in 1995 to pounds 1.1million last year.

They employ 330 in Coatbridge and another 500 at their factory in Bothwell, Lanarkshire.

It will stay open but Alexandra plan to axe 294 jobs from the combined Scottish workforce.

Marshall's Chunky Chickens recently decided to quit Coatbridge with the loss of 650 jobs.

Louise Creelman and her sister work at Alexandra - and their mum has just lost her job at Marshall's.

Louise, 17, said : "We haven't been working here long enough, so we'll be on the dole with our mum."
COPYRIGHT 1997 Scottish Daily Record & Sunday
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Copyright 1997 Gale, Cengage Learning. All rights reserved.

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Publication:Daily Record (Glasgow, Scotland)
Date:Apr 30, 1997
Words:317
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