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Cash-strapped PetroSA awards bonuses
- Published on 6 Dec 2016
- HR Pulse News Desk
Eleven bosses received payouts totalling R17.3-million even after the board said they did not deserve them. The executives benefited from a legal opinion that said "affordability would not qualify as a justifiable reason" not to pay the bonuses. Furious mid-level employees last week accused their bosses of running a "self-enrichment scheme" and demanded repayment of the money.
They said the bonuses were being paid while the company was laying off hundreds of staff to cut costs. The payments were made even while other staff members were told two weeks ago that for a second successive year there was no money for performance bonuses.
Source: SA Labour News
