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Qantas workers are promising a major industrial campaign if today's Annual General Meeting in Brisbane agrees to a 66 per cent increase in the fees paid to Qantas directors, according to the Australian Services Union.
ASU Assistant National Secretary Linda White said the proposed pay increase for the company's directors was incredibly excessive , particularly when compared with a pay increase of just 3 per cent per annum offered to employees.
Our members believe the proposed hike in directors' fees is incredibly excessive and simply unjustifiable at a time when they are being offered a paltry 3 per cent pay increase, Ms White said.
Thousands of Qantas employees have signed a pledge committing to an industrial campaign for a better wage deal if the Annual General Meeting approves the fee hike for directors, she said.
Ms White said she would be attending the Annual General Meeting in Brisbane today with around thirty Qantas employees to argue the case against the proposed increase in directors' fees.
We will be attending the AGM as shareholders, and will be putting forward our view that a hike in directors' fees of this magnitude is simply not in the interests of shareholders, she said.
Ms White said the Australian Council of Superannuation Investors (ACSI) supported the union's objections to the excessive fee increase, and that ACSI had advised their 32 industry and public sector superannuation fund clients to vote against the proposal at today's Annual General Meeting.
According to the Australian Council of Superannuation Investors, the proposed hike in directors' fees is excessive' and the company's justification was hard to sustain', Ms White said.
We think this is a sensible position to take and we are therefore asking shareholders to join Qantas employees and the independent analysts ACSI in voting against the proposed fee increase for directors, she said.
The ASU is the largest union in the Australian aviation industry, and represents around one third of workers in the Qantas Group.
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