Changing the Rules of the Game

<title>Abstract</title> This article examines the impact of privatization on the relative bargaining strength of management and trade unions. Findings are based on a study of Ireland's largest telecoms provider, Eircom, which has been privatized since 1999. The privatization of Eircom adopted a stakeholder approach, under which employee share-ownership and management--union partnership played an important role in firm restructuring. Findings show that despite this approach privatization has resulted in a significant decrease in the perceived bargaining strength of unions and an increase in the perceived bargaining strength of management.