https://www.9news.com.au/national/c...ket-news/d377363f-ec24-4383-8384-a6a243eac9b8
Coles has underpaid staff at least $20 million over the last six years.
The
supermarket giant made the announcement today as it reported first-half retail earnings of $725 million.
In a statement, the supermarket acknowledged approximately five per cent of its salaried Liquor managers had been underpaid relative to the General Retail Industry Award (GRIA).
Coles has been underpaying staff by $20 million, the supermarket giant admitted. (AAP)
Those managers are owed a combined $3 million, and there will be another $1 million in interest and costs.
Approximately five per cent of supermarket managers have been underpaid in the past six years to the tune of $12 million, and $4 million will be paid in interest and costs.
The statement noted the review of the Liquor business is "nearing completion" and the supermarkets review was "still in progress", which means more money could be owed.
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In the latest of this epidemic sweeping the business world, Coles has reportedly underpaid it's staff by $20mill over 6 years. I'm not a gambling man but I would bet my house that over the same time period of 6 years, not one farking executive, board member, director or consultant was underpaid one red cent!
Watch this space as Coles are fined $500K, which is about 10% of what they would have earned off the interest alone of that $20mill.
This has got to be a deliberate business tactic of under paying your staff, reaping the benefits of that and then coming clean with a "oh we are so sorry, look what we accidentality did...". How can so many supposedly smart business operators make the same mistake?