Co-operative Insurance Society (CIS) staff have begun a 48-hour strike in a dispute about new contracts – the first strike by CIS workers in 35 years.
About 2,000 financial sales staff walked out today in protest at new job contracts, which retail union Usdaw claims will leave workers worse off.
CIS has switched the collection of premiums and payment deliveries to central administrative staff – work that previously took up between 40% and 50% of its sales force’s time.
As a result, the insurer has now asked the financial adviser to spend the ‘extra time’ they now have selling more financial policies.
But Usdaw claims the new contracts will leave the staff 30% worse off – with the alternative being dismissal if they do not sign by 17 October.
Stephan Pater, chief operating officer at CIS, said the group was “very disappointed that we are facing the prospect of industrial action when our proposals are, ironically, all about preserving jobs and growing our business”.