What we could learn from French co-ops

Shame to see plans for SeaFrance to become a worker co-op have run aground.  This is despite having political, legislative and support structures that promote worker co-operative buy-outs.

“The cooperative, was to be financed by workers’ standard lay-off  payments as well as “exceptional” cash of 60,000 euros per worker, paid by SeaFrance’s parent company, state-owned rail form SNCF.”

Reportedly, not enough workers were committed to investing their lay-off cash in the co-op and the Trade Union was holding out for Government bail-out. Other trade unions representing SeaFrance personnel, and the national CFDT trade union, criticised the hard line stance of the local branch.

Read the full article at Co-operative News

 

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