Happy May Day workers of the world! JP
30 April 2018 | Emily Apple | The Canary
Sainsbury’s CEO Mike Coupe was caught out expressing his true feelings about his company’s proposed merger with ASDA. And it’s both embarrassing and utterly appalling in equal measure.
Coupe was in the ITV studios waiting for an interview. But when he decided to start singing, he had no idea that the camera was on:
“We’re in the money”
The proposed merger between Sainsbury’s and ASDA is worth £13bn. Since the announcement, share prices in Sainsbury’s soared by up to 20% in early trading and “closed 14.5% higher”. So for Coupe, his ditty was apt.
But his optimism will not be shared by many workers. Tim Roache, the general secretary of the GMB union, stated:
What on earth will Asda workers who are worrying about their futures think when they see this? It’s not only crass, it’s completely unprofessional and utterly insensitive. Is Sainsbury’s takeover of ASDA about people – workers and shoppers – or just more profit for its boss?
And this was a view echoed by other people on Twitter:
Walmart, the largest private employer in the US and the owner of ASDA, will reportedly retain a significant role after the proposed merger. Critics have previously given Walmart the title of “worst company in America”.
Coupe subsequently apologised for his singing. But this isn’t enough. His actions show utter contempt for workers and suppliers. People are worried about their jobs and their livelihoods as part of this merger. And Coupe’s actions will only make them feel worse.