Pretty hard to square these two statements from management 4 months apart:
This financial year, we’re facing a statutory loss of more than $2 billion, which follows on from the $2.7 billion loss in 2020.Given the amount of repair required, we have determined that a two-year wage freeze will apply to any new agreements offered in the Group. After that, the Group wages position will be two per cent per annum.
Then…
The Board is considering how best to structure the Remuneration Framework for 2021/22 to retain the critical talent required to set the Qantas Group on a course for prosperity beyond the COVID-19 crisis. As such, the Board is considering remuneration initiatives that are designed to reward and incentivise all employees in setting up Qantas for post-pandemic success.
So the cupboard is bare and no pay rise for anyone, then suddenly it’s super important we dream up a special new structure to reward and incentivise the management team.
Granted, they did say “all employees” but when you are stood down unpaid now and promised a wage freeze from 2023-2026, I can’t see this making up the difference.
It is a pretty loud statement that, a) We are NOT “all in this together”, and b) Management believe that they alone are responsible for the success/survival of the company and no thanks to the tens of thousand of employees beneath them.