Despite £39 million in profit, Diodes Zetex Semiconductors Ltd in Oldham is offering its workers a 5.5% pay increase when inflation (RPI) is 9%. Its parent company Diodes Incorporated made gross profits of £827 million in 2022, up 23%.
Unite is balloting 126 members comprising of direct manufacturing operatives, professional engineers, and support staff. There are 23 workers earning just the minimum wage.
Unite general secretary, Sharon Graham said: “This global giant is swimming in cash while the workers in Oldham are struggling to keep their heads above water. It’s no wonder they’re voting on strike action. This is a company which can easily afford to raise salaries.
“The workers have Unite’s full support throughout their campaign for a fair wage instead of a pay cut.”
The skilled manufacturing workers build leading, high quality semiconductor devices for industrial, automotive, computing, consumer electronics and communications markets. The company supplies components to a large number of electronics manufacturers and strike action will disrupt the supply chains of these manufacturers.
Unite regional officer, Tracey Ashworth said: “The skilled manufacturing workers at Diodes Zetex Semiconductors Ltd have helped to make the company hugely profitable and successful. It’s only right that they get a fair share of the profits.
“There’s still time to negotiate and avoid industrial action. We hope management uses this time wisely.”
