Solidarity rejects Denel salary cuts proposal
Solidarity members at the embattled Denel have rejected the
proposal to cut employees' salaries.
The trade union says Denel plans to cut to workers’ salaries by 20% as from the end of November.
Solidarity's Deputy General Secretary, Johan Botha says its members cannot be held responsible for the mismanagement of funds by the executives.
"Something that is more concerning is when you look at the 2017/18 financial report of Denel it shows that the Denel’s Group Financial Director Denel still received a hefty performance bonus of R3,28 million, and his total remuneration package for this period was R7,032 million," says Botha.
Botha adds in 2016/17 the salary bill for group executives increased from R22 million to R41,8 million in 2017/18.
"Solidary is adamant what is needed now is the urgent appointment of a new Group Executive Officer, the urgent approval of Denel’s revised corporate plan and urgent consideration."
Botha says if the salary cuts go ahead, Solidarity will take legal action against Denel.
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