Cash may be scarce this Christmas after one of Britain’s largest unions warned that banknotes and coins could be in short supply if more than 1,000 security workers who deliver them to the UK’s biggest banks and supermarkets go on a 48-hour strike as planned this December 5.
GMB and industry-leaders G4S Cash have been conducting negotiations on a wage increase for months. The union has requested a 15% pay rise for G4S workers due to the 11.1% inflation rate, but the company only offered a 6.5% increase from January. After G4S announced its decision, GMB members voted 97% in favor of industrial action.
“G4S Cash staff are low-paid workers doing a dangerous job, transferring the cash so many of us still rely on every day,” said Eamon O’Hearn, national officer at GMB. “These staff provide a vital service. If they walk out, there is a real risk of cash shortages over the festive period.”
On Thursday, the GMB union wrote to the Bank of England’s chief cashier warning that cash supply and security could be weakened as a result of the strike. Additionally, the union asked the bank whether G4S is planning to use agency staff without full Criminal Records Bureau checks and Security Industry Authority Licences.
The company stated that it has no plans to use agency staff without licenses in response to any action.
A G4S spokesman told British media: “We’re disappointed that the GMB has refused to take our latest offer to our employees for their consideration, but we will continue to engage with both parties in the hope of reaching an amicable agreement. We have been in regular contact with our customers and in the event of a strike, we have contingency plans to minimize disruption to cash services across the country.”
The Bank of England didn't provide any comment.
October's 11.1% year-on-year inflation is the highest since the early 1980s. Many experts connect such a high rate with western sanctions imposed on Russia due to its special military operation in Ukraine. Those sanctions caused global fertilizer, food and fuel prices to soar.