Union Uses "Reverse Auction" as Fighting Words

Image by Getty Images via @daylife

Hey, here at the RARC, we're following the latest news and trends in all uses of reverse auctions (and the terminology of it as well). Well, here's a new one out of Wales. The union for auto workers at TRW Automotive is using "reverse auctioning" in an accusatory (and pejorative) way - alleging that management is having its plants engage in a "reverse auction" on lowering costs to determine which one(s) to close. You can read the details here below:

BBC News - Union talks on Resolven car plant closure

From the article:

"Derek Vaughan, Labour MEP for Wales, and a former leader of Neath Port Talbot council, said he was shocked by management "tactics" at TRW.

He accused TRW of holding a "reverse auction" among its plants in Europe to find out which staff would take the biggest cuts."

Now, not saying we haven't seen this kind of action done before - but a unique twist to use the "reverse auction" label in such a way.

David

++++++++++++++++++++++++++++++++++++++++

Related articles by Zemanta

• 225 jobs to go at car parts plant (bbc.co.uk)
• A loser’s nightmare in Europe’s debt auctions? (politics.ie)
• BDA to e-auction corner sites (thehindu.com)
• TradingPartners: Does Restructuring Portend Changes in the Reverse Auction Market? (Part 3) (spendmatters.com)
• 2nd auction of newspapers likely to bring same result (philly.com)
• HutchBSR Racing Parts and Equipment Assets To Be Sold at Auction (prnewswire.com)
• Lenders, Perelman again bid for Philly papers (reuters.com)
• Auction plugin for WordPress (wordpressguru.eu)
• Illinois Reverse Auctions Redux -- When Journalists Selectively Quote to Skew Stories (spendmatters.com)

++++++++++++++++++++++