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Lloyd's Register bosses accept pay rise whilst denying cost of living uplift to staff

15 March 2024

Top management earning as much as £1,000,000 per year at maritime classification society Lloyd's Register are rewarding themselves with a 10% inflation-busting pay rise, even as the company refuses to give hardworking staff a cost of living uplift and seeks to replace jobs in the Netherlands with insecure employment in cheaper labour countries.

Lloyd's Register has consistently refused to recognise Nautilus International as the union representing staff for negotiations on pay and conditions of employees in the Netherlands.

In January, Dutch employees bearing a petition to CEO Nick Brown, which asked for union recognition and a pay uplift to reflect high inflation, were denied access to the company's headquarters in London.

'The action in London was successful because we showed how Lloyd’s Register treats its employees. The company is active in more than 70 countries and our action has not gone unnoticed worldwide,' Nautilus executive officer Charley Ramdas said.

'We continue to put pressure on Lloyd’s Register and are considering other possible actions. We will also look at the legal options to get the company to return to the negotiating table.'