More employee-ownership in Scotland

 

In Insider today:

A fast-growing construction and fit-out business has started the New Year in employee ownership. The deal saw 55 workers at Glasgow-based Pacific Building Ltd become joint owners of the business. An employee ownership trust will hold 100 per cent of the shares in Pacific – which is headquartered in Hillington Park on the outskirts of Glasgow – on behalf of the staff. All the workers will share equally in the company’s success every year via a bonus scheme, as long as it continues to operate profitably, and they will have a say in the day-to-day running of the business. The move by Pacific – whose turnover last year was £22 million – mirrors one taken almost exactly a year ago by Auchrannie resort on the isle of Arran, which transferred its ownership to its employees.’

https://www.insider.co.uk/news/pacific-building-ltd-becomes-employee-13919909

This is just another example of a strengthening trend in Scotland:

Employee-ownership far more common in Scotland

Once again, it’s the ‘8% of the UK population but much more of something good’ meme. This time it’s 33% of employee-owned firms in the UK

 

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