Woolworths tells shareholders it has started paying back some of the estimated $200 million to $300 million it owes workers.
Woolworths says it has started paying back some of the estimated $200 million to $300 million it owes workers.CEO Brad Banducci will forfeit a $2.6 million bonus and chairman Gordon Cairns will have director fees cut by 20 per cent because of payment scandalShareholders at the AGM say the scandal was"[not] edifying at all"
The supermarket giant told investors at its annual general meeting in Sydney it had started making back payments for the past two yearsWoolworths is facing a class action and an investigation by the Fair Work Ombudsman after the company discovered it had underpaid staff members, including supermarket managers, under the General Retail Industry Award over the past decade., which have admitted to underpaying their workers.
Chairman Gordon Cairns told the meeting Woolworths had gone through worker records for 2018 and 2019 which involved 11 million data points each year. "To discover we have underpaid so many of our team members has been incredibly disappointing," Mr Cairns said. Woolworths chief executive Brad Banducci told reporters after the meeting the company was still working through the rest of the payments owed to workers, including in other parts of the company such as department store Big W and bottle shop Dan Murphy's.
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