Canada markets open in 7 hours 37 minutes
  • S&P/TSX

    19,031.64
    -111.61 (-0.58%)
     
  • S&P 500

    4,134.98
    -38.44 (-0.92%)
     
  • DOW

    33,815.90
    -321.41 (-0.94%)
     
  • CAD/USD

    0.8014
    +0.0016 (+0.20%)
     
  • CRUDE OIL

    61.91
    +0.48 (+0.78%)
     
  • BTC-CAD

    62,138.43
    -5,740.38 (-8.46%)
     
  • CMC Crypto 200

    1,130.13
    -112.92 (-9.08%)
     
  • GOLD FUTURES

    1,783.70
    +1.70 (+0.10%)
     
  • RUSSELL 2000

    2,232.61
    -7.01 (-0.31%)
     
  • 10-Yr Bond

    1.5540
    0.0000 (0.00%)
     
  • NASDAQ futures

    13,763.00
    +12.75 (+0.09%)
     
  • VOLATILITY

    18.71
    +1.21 (+6.91%)
     
  • FTSE

    6,938.24
    +42.95 (+0.62%)
     
  • NIKKEI 225

    28,942.92
    -245.25 (-0.84%)
     
  • CAD/EUR

    0.6659
    +0.0007 (+0.11%)
     

Owner of LloydsPharmacy questioned by MP on UK staff pay conditions

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
LaToya Harding
·Contributor
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Bracknell,England - November 04,  2016: Front view of a Lloyds Pharmacy store in Bracknell, England. Lloyds have over 1,500 pharmacies across the United Kingdom
LloydsPharmacy, which bought Sainsbury's network of nearly 300 in-store chemists in 2016, operates a network of more than 1,400 sites across the UK, with more than 17,000 staff, according to its website. Photo: Getty

McKesson UK, the owner of the LloydsPharmacy chain, is facing questions from a prominent MP about staff pay conditions.

Robert Halfon, a member of the Conservatives' 1922 Committee, has called on the company to reverse changes to staff sick pay and overtime in a letter to McKesson’s boss Toby Anderson. The letter was seen by Sky News.

McKesson is proposing to slash overtime and sick pay, including only paying employees on sick leave from their third day of illness onwards, as well as moving its workforce to a six-day working week including Saturdays. The company is also looking to cut bonuses and remove a heavily-subsidised private healthcare scheme.

Halfon said he was “deeply concerned” by the move. “The measures that Lloyds are proposing will significantly hurt staff and have a huge impact on their cost of living."

He added that he would be tabling a Commons motion on Monday on behalf of constituents.

Trade union Unison has also approached LloydsPharmacy to negotiate a revised deal but told members this month that this had been rejected by the company, the broadcaster said.

Unison in a notice to workers said: “We are now in dispute and will move to a full ballot on industrial action.”

“We find it shocking that Lloyds would consider this during a global pandemic that has made it abundantly clear how important paid sick leave is to workers, companies and society at large.”

READ MORE: Major UK firms 'named and shamed' for failing to pay minimum wage

McKesson UK told Sky: “From previous experience of consulting with our employees, we do not anticipate invoking a termination and re-hire process with any of our valued colleagues, and feel this action would be highly unlikely.

"We are in early discussions with Unison and are working through ACAS, however, we continue to have regular and open dialogue with our colleagues directly.”

LloydsPharmacy, which bought Sainsbury's (SBRY.L) network of nearly 300 in-store chemists in 2016, operates a network of more than 1,400 sites across the UK, with more than 17,000 staff, according to its website.

It comes as its US parent is plotting a £400m sale of the chain. McKesson Corporation (MCK) hired bankers at Barclays (BARC.L) earlier this month to explore a sale of its UK operations, which also includes All About Health, the UK's biggest drugs wholesaler.

Yahoo Finance has reached out to McKesson UK for comment but had not heard back by the time of publication.

WATCH: What UK government COVID-19 support is available?