UNION TO PROTEST PRIVATE EQUITY FIRMS

Unionists will join a global day of protest on Thursday against private equity firms they say exploit workers. The Liquor, Hospitality and Miscellaneous Union (LHMU) says its members will take part in various actions across the nation as part of international Take Back the Economy demonstrations. The LHMU will target Australian companies associated with private equity firm Kohlberg Kravis Roberts & Co (KKR), such as Coles, Toys R Us, Nuvox Communications and the Seven Media Group. LHMU assistant national secretary Tim Ferrari said his union supported demands outlined by the Service Employees International Union calling for private equity firms like KKR to be more accountable and responsible. The LHMU believes that good corporate practice will not only improve the conditions of millions of workers but also help strengthen economies and protect the environment.