Employees gain ownership stake in Tameside group

Posted on June 1st, by editor in Caring Times. No Comments

Tameside Care Group (TCG) has completed the first phase of its financial restructuring to become an Employee Benefit Trust, whereby individual employees will become shareholders in the company. The company has acquired the existing share capital and care homes from Tameside Community Care Trust and Tameside Metropolitan Borough Council. Tameside managing director Alan Firth said the move was thought to be the first of its kind in the UK, where employees would own a stake in their own care home business. “This is excellent news for our employees, our residents and the borough in general,” Mr Firth said. “Tameside Care Group will now embark on a further significant investment programme at all its care facilities, aimed at providing single bedroom accommodation for all its clients. The company is aiming to increase its bedroom portfolio in Tameside by about 40 more single bedrooms which, in turn, will create a number of additional jobs within the local communities.” Mr Firth said that during the last five years,

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