You don’t wanna work for Fred
Employees of super slick bookies Betfred might be getting their wages cut by almost 50%. And if staff don't sign new contracts – which would mean some will lose thousands of pounds – they won't be asked to stick around.
The company, which last year made a profit of £69m, is run by Fred Done and his brother Peter, who are worth a cool £850m. Yet under their new grading system they'll be paying employees according which shop they work in – and their wages will be based on how much profit their super evil fixed odds betting machines are bringing in.
It means that some managers will be taking a pay cut from £15 an hour to £9, and the only incentive that's being offered are 280 area manager jobs. If you don't get that, you have to take the cut. Not a very nice way to reward your workers while you're riding high, is it?
A spokesman for Betfred said: 'Betfred is in discussion with its staff and the union on how we manage our betting shops in the future. There are no proposed redundancies and the changes will offer our staff progression to more senior management positions. We believe that the proposals will drive the company forward and secure the future of the business.'
A morally bankrupt business that pays their workers badly and siphons money off the poor with gambling machines that are impossible to beat? Betfred employees - down tools and leave in your droves. It's time to work for a more ethical company - like er... McDonalds.