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Feb 6, 2008 (newstodate): Danish unions won yet another round over the SAS Board that once again retreated from a decision to sell its handling company, SGS.
-Until further notice, SGS will remain an independent subsidiary of the SAS Group, provided that the company can improve a number of quality and profitability targets, which have been agreed by management and the trade unions, within 18 months. One of the requirements is an improvement in costs within SGS of approximately 400 million Swedish Crowns, the board says in a stement.
Vaguely phrased, the words allow SGS a fresh grace period before the eventual decision to sell off the loss-making activity.
The hesitation by the board is widely considered a result of the unions' undisguised threats to respond with immediate labour unrest and strikes in case of a sell-off.
-Until further notice, SGS will remain an independent subsidiary of the SAS Group, provided that the company can improve a number of quality and profitability targets, which have been agreed by management and the trade unions, within 18 months. One of the requirements is an improvement in costs within SGS of approximately 400 million Swedish Crowns, the board says in a stement.
Vaguely phrased, the words allow SGS a fresh grace period before the eventual decision to sell off the loss-making activity.
The hesitation by the board is widely considered a result of the unions' undisguised threats to respond with immediate labour unrest and strikes in case of a sell-off.