Show us exec salaries
By Brad Crouch · 24 Jun 2013
Holden workers will demand the company open its books and reveal executive salaries as the car maker calls on blue collar workers to take pay cuts. Holden is asking its manufacturing workers to take pay cuts by August as it finalises 400 redundancies at Elizabeth and 100 in Port Melbourne.
But executives have not been asked to share the pay cut pain, nor have workers at its engineering plant in Port Melbourne. The Federation of Vehicle Industry Unions tomorrow will deliver a seven-point plan to Holden boss Mike Devereux, which includes a demand for full disclosure of executive salaries.
The union will also demand access to all financial data Holden used to arrive at its decision to cut salaries and agreement that an independent business expert review Holden's cost structure and books. Mr Devereux was unavailable for comment yesterday but earlier this week said “everything is on the table” -- except his own pay, which he said was cut in 2009 and was “below average”.
The demand for pay cuts has triggered a rush of applications for redundancies and it appears Holden will easily achieve its target.