Further to the communication to members on March 11th, NACO has been in further discussion with the Co-operative Group regarding the Annual Salary Review 2014.
As we noted previously, NACO would normally be updating members on the progress of the Review in April. The Co-operative Group has acknowledged that, along with other pay reviews within the Group, the Management Salary Review will shortly become overdue.
Citing the unprecedented business and financial challenges facing the Group, NACO has now been advised that the business will not be in a position to constructively respond to any pay claims before the announcement of the Co-operative Group financial results - now delayed until April 17th 2014.
Once we have more news regarding the progress of the 2014 Salary Review we will communicate with all members by email.