Fat cat executives ‘can’t sack workers’

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Fat cat executives ‘can’t sack workers’

Family First Senator Steve Fielding is promoting a bizarre scheme whereby workers at a company could not be made redundant if the executives had received pay increases or bonuses in past 12 months.

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Family First Senator Steve Fielding is promoting a bizarre scheme whereby workers at a company could not be made redundant if the executives had received pay increases or bonuses in past 12 months.
 
They also could not be made redundant if the executives were ‘due’ to receive increases or bonuses in the next 12 months.
 
Fielding is planning to bring legislation before Parliament to ensure that if the executives did make workers redundant under either of these provisos, they would have to pay back the increases.
 
Pay back bonuses
 
How executives could ‘pay back’ bonuses they had not yet received is not explained.
 
‘Fat cat executives need to understand that the buck starts and stops with them,’ Fielding said.
 
‘Like many Australians, I was shocked to hear yesterday that a further 170 hard-working people from Bosch had lost their jobs.'
 
‘Tragically, they are innocent victims of the global economic crisis and even more tragic is the knowledge that there are likely to be more.'
 
Appalling job losses
 
‘What is so appalling about these latest job losses is the revelation that these job cuts were made despite the senior executives of the company paying themselves whopping annual bonuses of up to 155% of their base salary over the past three years.
 
‘This disgrace comes after the shocking news that executives of Pacific Brands treated themselves to million-dollar bonuses before going on a sacking spree, which left another 1860 people lining up in the unemployment que [sic].'
 
‘It seems that the boundaries of corporate greed are endless.'
 
‘It’s time to tell all those fat-cat executives with outrageous salary packages to get off the gravy train and start thinking about ordinary Australians.’
 
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