Originally Posted by
CamelSquadron
Its all about economics.
Get a 5% wage increase, then everyone else will be demanding a 5% increase instead of 3%. On a $4.3bn wage bill that extra 2% equates to an extra $86m per year. Get that increase for a second year and the cost increase is $172m over the 3% figure (before compounding). Its a simplified calculation but it illustrates the problem.
Which is the cost of doing business. A decent business will focus on also growing revenue and profit. This mob is only interested in cutting costs - that strategy doesn’t work in the long term.