Sale of Lloyds delaying pharmacist pay agreement, says PDA
The PDA Union has said it is urging LloydsPharmacy to submit an improved pay offer in talks that have been held up by the multiple’s sale to its new owner.
Paul Moloney, the PDAU’s lead negotiator in pay talks with Lloyds, said in a recent update that his team had rejected two previous pay increase offers from the multiple as unacceptable.
These include one offer to increase pay by 1.8 per cent and another to increase pay by 2.3 per cent alongside an long-term incentive plan (LTIP) that “will deliver further increases in income, but not for two years”.
The PDAU said that rather than keep money earmarked for the LTIP, it is urging Lloyds to use some of these funds now “to help address the cost of living crisis we know members are facing”.
Mr Moloney said that resolution of the pay rise discussions have been held up by McKesson UK’s transition from its previous US parent company to new owners Aurelius Group, a private equity firm. The transition to Aurelius completed in early April.
“We are now significantly behind in securing an increase in pay that meets the objectives set out in our claim,” said Mr Moloney, explaining that the “change of ownership of the company occurred during the crucial stages of our negotiations and has inevitably delayed the process”.
Any agreed pay rise will be backdated to April 1 this year, he confirmed.
“At this stage we are urgently seeking assurances that the company is still considering points we have made about how best to use the money available and that they continue to be in a position to make an offer that includes a pay increase from April 1 and proposals regarding an incentive plan.”
He said that once the company submits another confirmed offer the PDAU will circulate the details among members at Lloyds, who will be “consulted fully on whether or not it is acceptable”.
A LloydsPharmacy spokesperson told Pharmacy Network News: “LloydsPharmacy is currently in negotiations with the PDA under its new voluntary relationship.
“We are committed to working together to reach an agreement that works for our colleagues, while ensuring the commercial stability and sustainability of our pharmacy network.”