Originally Posted by
MickG0105
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.
An article in The Border Mail about 12 months ago gives some perspective, although no other mainstream publication, including The Australian, have seemed to run with it?
I’m unable to post the link, but perhaps someone who is a little more tech savvy?