GMB demands answers as Walmart considers IPO for Asda
The GMB union has called for an urgent meeting with Walmart over a possible Asda £12 billion stock market float.
This follows the collapse of a merger with Sainsbury’s. Walmart International Chief Executive Judith McKenna commented this week: “While we are not rushing into anything, we are seriously considering a path to an IPO - a public listing - to strengthen long-term success."
GMB has written to Walmart bosses to demand reassurances on the future of the company and the workers that it represents. Gary Carter, GMB National Officer, said: “Our tens of thousands of Asda members have had enough uncertainty – they need to know that their futures are safe and secure. Walmart needs to remember they are playing with people’s lives while they try to make billions on the stock market.”
“Asda needs to work with GMB to sort the contract debacle causing uproar among the workforce before any float takes place. Any new investors must realise Asda is a profitable well-run company thanks to our members’ hard work."
Walmart did not respond to our request for comment.