Originally Posted by
273Kelvin
307 on the latest seniority.
Thanks for that. Back-of-the-napkin, the stalled EBA has saved Rex in aggregate, somewhere between $3.5 - $4.5 million in wage increases since the agreement expired (COVID-related stand downs would have some impact on actual impact). In return they are offering $1.5 million, contingent on profitability. Does that sound like wages theft?
Notably, while the EBA was stalled, management still received fairly substantial hikes to their salaries and total remuneration. The COO's base pay rose over 22 percent between 2018-2021. Management basically never missed out on a pay rise. Even during the pandemic, most of the executive management team received wage increases. In FY 2020, the year that they were crying impending collapse and had their hand out for $54 million in "last resort" funding they still managed to give Sharpie a 6.6 percent pay rise.