Lets say I owned LONMIN, LONMIN is a R2 billion a year profit company and had 11 000 workers. I then tell the workers that if they increased productivity and I increased sales, Id be able to give them 75% of the profit starting immediately until they reached their R12 500 demand. That would mean from day one, I together with other shareholders, would receive R500 million a year while the 11 000 workers share R1,5 Billion among themselves a year. That would amount to R136 364 a year for each worker and R11 364 a month immediately. From then onwards if the workers kept their end of the bargain and profits increased, the portion of the shareholder shall increase both in Rands and Cents as well as in profit percentage while that of the workers will increase only in Rands and Cents but decrease in the profit percentage. And then in no more than three years, the R12 500 minimum wage shall have been met but still with the shareholder portion increasing while the worker portion is decreasing as per profit percentage given that this will be a multi-year agreement. Are the employers therefore so greedy that they cant do this simple arithmatic?
Posted on: Sat, 07 Jun 2014 20:30:51 +0000
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