BHP has made $180 billion in income over a decade whereas mining employees had actual wage falls. Now it is complaining about paying employees pretty.
Unexpectedly, mining big BHP has produced the strongest case but for why the federal government’s proposals to finish the exploitation of contract employees are price supporting.
BHP, which depends closely on contracting out to labour-hire companies that pay employees a lot lower than BHP’s everlasting workers, has instructed the Monetary Overview that the federal government’s legal guidelines to equalise pay for a similar job would take $1.3 billion away from shareholders.
“This can have a direct affect to our shareholders,” lamented the corporate’s CFO David Lamont. “$1.3 billion will come instantly off our earnings every year that may then movement on to dividends, we estimate that to be about 30¢ on a dividend payout.”
Learn extra about BHP’s sturdy case for industrial relations reforms.
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