Staff at the Financial Conduct Authority (FCA) have voted overwhelmingly in favour of taking industrial action against proposed cuts to pay and conditions.
FCA members of the trade union Unite voted 87% in support of striking should their demands not be met following negotiations. Unite said that it can now proceed to a full industrial action ballot unless a negotiated settlement is reached with the FCA. FCA chief executive Nikhil Rathi - who has championed the cuts to pay at the financial regulator - had previously dismissed employee complaints as "noise". According to Unite, the pay cuts "threaten to damage the interests of savers, borrowers and businesses by creating a bargain basement regulator". Unite general secretary Sharon ...
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