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 Eskom top management get 83% increase - trade union

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PosOnderwerp: Eskom top management get 83% increase - trade union   Sun Jul 04, 2010 2:42 pm



Trade union Solidarity avers that Eskom’s executive committee received an average salary increase of 83%.


The increases vary from 73% to 91% and Solidarity said these figures excluded payouts based on performance shares.
Executive committee’s increases were not the result of new posts, but were awarded within existing posts.
According to Solidarity, if the payout of performance shares is added some members of the executive committee, excluding the CEO, will have received nearly 7 million rand.
The performance shares are based on the long-term performance of the company and are linked to performance goals, including Eskom’s financial performance, sustainability and reputation.
"If the performance has been poor, less than the amount provided may be paid out, but according to Eskom its executive committee has performed so well that 89% more than the amount provided was paid out," said Solidarity general secretary Flip Buys.

"Eskom’s top management has no credibility when they threaten to have Eskom workers locked up when the workers threaten to go on strike, if the top management award themselves increases that are almost 10 times higher than the increases for employees," Buys said.

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