Finance union Amicus has predicted there will be a "dramatic increase" in trade union activity this year, as cutbacks hit the financial services sector.

The prediction follows record recruitment at Amicus in 2002, when Amicus recruited 10,000 new members from the finance sector.

Reports suggest that there could be as many as 30,000 job cuts in 2003.

Amicus joint general secretary Roger Lyons said: "2002 was a very successful year for Amicus recruitment in the financial services industries. However, this was against a backdrop of massive redundancies, downsizing and cutting jobs within the industry.

"Predictions for 2003 show no change to this pattern. Amicus will continue to fight job cuts, pension scheme closures and the attacks on working conditions within the finance sector.

"I am urging everyone employed by finance industry companies to join Amicus today to help yourselves to stop these unjustified cuts in employment within your industry."

Topics