Chapel-en-le-Frith company hands staff substantial bonus in response to cost-of-living fears

Bosses at Street Crane, in Chapel-en-le-Frith, will pay 118 eligible employees an extra £850 each in their September pay packet – a total £100,000 – with 15 members of the management team agreeing to forego the payment to top up the bonus by an extra £100 per worker.

Managing director Gus Zona said: “With the impact of the pandemic and Brexit, and the ongoing energy uncertainties caused by the war in Ukraine, we are all navigating our way through exceptional times.

“People are our most valuable asset and at Street we have a proud 76 years history supporting each other. I would like to thank everyone involved.”

One of the world’s largest suppliers of overhead crane technology, the company has weathered many storms since it was founded in 1946 by ex-Spitfire pilot Peter Street.

Employee Michael Burgreave said: “When the company asks everybody to gather for a meeting, you expect bad news, especially with the current economic climate. Thankfully, the news was very good. This is a fantastic gesture and will not be forgotten by me and a lot of fellow workers.”

Apprentice Josh Clark added: “This is a great sign of respect and means a great deal to me. It’s going to be a huge help in the upcoming winter months and in dealing with the current cost of living crisis.”

Beyond the bonus, it remains to be seen how the company will respond to longer term pressures, with some forecasts now suggesting inflation will hit 18 per cent in January.

In 2018, members of the union Unite had to resort to strike action in order to secure a three per cent raise from Street Crane.

Gus said: “We still face the full force of price rises. As a major steel user we are seeing the cost of raw materials sky rocket and energy price increases hit us everywhere.

“We hope the Government will look to put in place measures to help all businesses to work through the crisis. With the cost of living support payment, we are doing what we can to help our team.”

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