12.6 C
Johannesburg
Friday, May 24, 2019
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.

  1. I simply want to tell you that I’m very new to blogging and truly liked you’re website. Likely I’m want to bookmark your website . You actually have beneficial writings. Cheers for sharing with us your web site.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Avon Justine Introducing A New Direct Delivery Capability

Over the last few months Avon, the largest direct-selling company in South Africa, has made remarkable progress in the implementation of its digital strategy,...

Avon Justine’s New digital Blueprint Reiterates Its Support For Women Empowerment

Iconic beauty company, Avon Justine, has reaffirmed its commitment to championing the empowerment of women by aligning its digital platforms to bolster the earning...

Avon Launches New Mobile App As Part Of Its Digital Strategy

Avon South Africa,  a leading direct-selling company, has introduced a new mobile app known as Avon ON. This is in line with the company’s quest...

Data Fails To Capture Complexity Of South Africa’s Unemployment Crisis

by Daniel Mügge and Juliette Alenda-Demoutiez It’s been 25 years since democracy dawned in South Africa. But apartheid’s legacies still scar the country. Poverty remains...

New opportunities In African TMT Investment But There Are Challenges

The technology, media and telecommunications (TMT) sector in Africa is expected to show impressive growth in 2019, with transactions forecasted to exceed earlier predictions...