Australian Post is cutting 900 jobs while paying its boss $4.8 million salary. Is this fair? I don’t think so. For the life of me, I simply cannot understand why the executives of big companies are paid millions in salary every year. In this case, Ahmed Fahour (the head of AusPost) is paid more than the bosses of Woolworths, Fairfax, David Jones etc. When compared to his international peers, the difference is more remarkable. Ahmed is paid more than 10 times what his US counterpart is paid.
“Fahour’s salary isn’t merely high, it’s completely off the scale.”
According to the Australian Council of Trade Unions,
“The average total remuneration of a chief executive of a top 50 company listed on the Australian Securities Exchange in 2010 is $6.4 million – or almost 100 times that of the average worker.”
I am outraged.