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Home Breaking News Solidarity union slams Telkom over ex-CFO 'wasteful' pay

Solidarity union slams Telkom over ex-CFO ‘wasteful’ pay

By Staff writer

Solidarity Union on Tuesday in a statement lambasted Telkom for paying its ex-chief financial officer Jacques Schindehütte  close to R19 million, describing the total package as a ‘waste’.

The union said that Telkom could have paid the salaries of about 80 technicians for a year with the money paid to Schindehütte.

Schindehütte was paid R18.8 million, which consist of a R6.6 million guaranteed package, no short-term incentives, and R12.2 million in  fringe and other benefits.

Marius Croucamp,Solidarity spokesman,  said he average technician employed by Telkom earns about R20 000 per month before deductions. Therefore, with the R19 million in unearned compensation paid to Schindehütte, Telkom could have paid the salaries of about 80 technicians for a year.

“Given the massive retrenchment process at Telkom, we are aggrieved that Telkom has squandered so much money that could have been used to keep experts in its employ. At meetings with Telkom we will once again warn the company to get its priorities right and to have its employees’ interests at heart,” Croucamp said.

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