A coalition of international workers unions have called on investors to vote against changes to stock plans at XPO Logistics, the company behind the workers’ rights controversy at ASOS.
XPO Logistics run ASOS’s Barnsley warehouse, where working conditions were recently found to be “exploitative” by a committee of MPs. MP Iain Wright told the BBC in October that the “flex” contracts in use by the company could breach employment legislation and should be “examined”.
XPO Logistics said it running of the warehouse was “fully compliant with employment law”.
In a statement,Teamsters General President Jim Hoffa said: “We condemn this plan that could lavish Jacobs and other executives at XPO with massive stock awards that would be on the backs of workers in the United States and Europe. We appreciate the support of our brothers and sisters in Europe. XPO needs to invest in the workers that are making the company successful, not just its CEO.”
Frank Moreels, President of BTB Belgium and vice-chair of ITF’s Road Transport Section added: “Our union and other unions in Europe that represent XPO employees agree that this plan could harm the workers while enriching Bradley Jacobs.
In a letter sent to XPO Lead Independent Director Michael Jesselson on December 1st Teamsters General Secretary-Treasurer Ken Hall noted that the plan as proposed could allow the board to award Jacobs compensation that is 160 times his base salary.
Asos (LON:ASC) shares are currently up 0.10 percent on the London market at 4,844 pence per share, with shares in XPO Logistics (NYSE:XPO) up 5 percent to 48.07 (1012GMT).