The Management of Volta Aluminum Company Limited (VALCO) has disclosed that staff of the Company rejected a proposed 22% increase of their salaries.

In a press release signed by the Chairman of the Company’s Board and Chief Executive Officer, Henry Benyeh and Dan Acheampong respectively, it was revealed that the Management offered staff an increment of 22% in salaries even though staff had demanded for 55% raise.

“It must be stated clearly that the workers, after a series of negotiations led by their union executives, made an initial demand of 62% salary increment to the Management of VALCO, and subsequently reduced it to 55%. In response the Management of VALCO decided to grant a 22% increment for the workers.”
VALCO Mgt.

This press release follows after workers at the Company embarked on what Management has described as “a full-blown takeover of the Smelter” on Sunday, October 30, 2022, in protest for higher remunerations.

Workers also embarked on another demonstration yesterday, 1st November, 2022, demanding for the removal of all senior staff who have attained the legal retirement age but are still at post.

Claims of VALCO’s Management

The Management claims to have appealed to the workers to consider the current state of the Aluminium Smelter Company which for many years was recording losses in accepting the 22% salary increment it was proposing.

The statement from VALCO’s Management disclosed that, it was only in 2021 that VALCO “through prudent management and better supervision, chalked some modest gains recording Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA) profits.”

So because the Company was just picking up in terms of finances, Management pleaded with workers to accept the 22% increase assuring them of “further increment in the future as VALCO continues its efforts in finding a strategic investor to retrofit the plant.”

To prove Management’s commitment to the welfare of its staff, Management decided to involve the National Labour Commission (NLC) in another negotiations with the staff after the first negotiations ended in a stalemate.

“Management of VALCO further indicated to the workers union executives that they will on November 1, 2022, finalise a communique for submission to the National Labour Commission (NLC) for independent third-party adjudication in accordance with law after negotiations between Management and the workers ended up in a stalemate.”
VALCO Mgt.

However, the workers could not hold on. And that’s why they demonstrated insisting that they would not allow the Executive Management into the Company.

Management also gave reasons why some senior staff are in post eventhough they had attained the retirement age.

According VALCO’s Management, all such staff are still in post because of their technical expertise and they are all employed on contractual basis.

Moreover, it dismissed claims in the public domain that the Ghana Grid Company Limited (GRIDCo) had cut power supply to VALCO following the demonstration by workers.