Recently arrived from the Autonomous Region of Madeira (RAM), allow me to make some notes. RAM’s GDP per capita was one third of the national average in 1975. Now it is slightly above that of the whole of Portugal.
The low level of social conflict contributed greatly to this result, which should make us all proud. Yes, because in Madeira, in the autonomous region that circumvented structural backwardness, everyone sits on the Economic and Social Council (and the Permanent Commission for Social Coordination). Businesspeople, the State Government, but also all trade unions (including USI – União dos Sindicatos Independentes) and not just those from the PREC regime.
And this in relation to the depressing spectacle of the Minister of Labor (who alone will carry Chega on her lap to the Government) who insists on negotiating with just one of the three union federations…
Equally or more important, news of the results of large companies. The year 2025 was, generally speaking, excellent for shareholders and top managers of these companies, most of which are listed on stock exchanges. Beautiful profits, beautiful bonuses for top managers. Nothing to oppose.
The bottom line, however, is that a large part of the workers in these companies, in Portugal, but throughout Europe in particular, are qualified workers, aged between 40 and 60, with little hope of being considered young talents that need to be retained, or with low possibilities of ascending to the Olympus of top management.
For these, salaries are stagnant, with annual updates that are zero, or tend to be below inflation’core‘. Even more serious in the financial sector, with loss of remuneration position compared to other sectors of activity.
And workers in these sectors look to doctors, teachers, military personnel, judges, among many others, where there are promotions based on seniority combined with the acquisition of knowledge and new skills. In recognition that the leadership ‘career’ is not the only form of progression, and that merit and effort also count.
For all these reasons, in collective negotiations, in the financial sector, telecommunications, energy, among others, we have vehemently insisted on the elimination of the ceiling on promotions and the extraordinary review of the situation of thousands of workers who have been in a professional situation without salary increase for several years.
Therefore, nothing against profits and bonuses. But it is necessary to pay attention to the piano chargers, the defenders and central defenders, in a football metaphor, in a corporate world that overvalues the finishing striker (the top manager) and forgets the senior, intermediate and technical staff. And so the challenge: what about promotions?
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