Thursday, 9 August 2007
Union slams Trujillo’s ‘obscene’ pay rise
Press release from CPSU
The Community and Public Sector Union (CPSU) has slammed the latest pay increase for Telstra CEO Sol Trujillo following the company's latest profit announcement.
CPSU Deputy Secretary Louise Persse said:
"Sol Trujillo's total package of $11 million plus a year is obscene. Coming after another interest rate hike, most Australians would view this kind of increase as offensive and out of step with wider community standards.
“There will be no cheering about Sol’s bonus in regional communities such as Cairns, Maroochydore, Newcastle, Wollongong, Moe, Ballarat and Launceston, where hundreds of Telstra jobs have been cut recently.
“More than 6,000 staff have been cut over the last two years and 4,000 more jobs are set to go. The average new Telstra employee is employed on a take-it-or-leave-it Australian Workplace Agreement and earns around $42,000 a year. But even then, up to 20-30% of that base salary can be at risk unless tough performance and sales targets are met.
“While many Telstra staff on AWAs have no guaranteed annual pay rise, Sol’s remuneration has
grown by more than 21% over the last year.
"Sol Trujillo now earns more 250 times the average Telstra workers salary. Or to put it another way, it takes Sol Trujillo less than a day and a half to earn what an average Telstra staff member earns in a year,” said Ms Persse.
Louise Persse - Deputy Secretary 0408 346 917
Paul Girdler – National Organiser 0418 331 369