which at the time were thought to be between $200 and $300 million, however earlier this year the group adjusted the underpayment amount to $315 million.
Remediation costs for the 2020 financial year are now around $185 million for Woolworths, contributing to nearly $600 million in significant one-off costs the company on Tuesday announced it expected to report this financial year.Another $230 million in costs were noted for the restructure and transformation of the Endeavour pubs and drinks business, which Woolworths now expects to de-merge in the second half of 2021.left open the option of axing the spin-off entirely.
Woolworths posted a record rise in sales across the third quarter of the financial year, up 11.3 per cent at its supermarkets division, which it revealed had continued into the fourth quarter, with supermarket revenue up 8.6 per cent for the 10 weeks ending June 14. Sales similarly skyrocketed at Big W, up 27.8 per cent, and Endeavour, up 21.4 per cent. However, these increased sales will not translate into a boost in profit for the full year, with the company flagging a 1.2 per cent to 2.7 per cent drop in full-year earnings before interest and tax, which are now expected to come in at between $3.2 billion and $3.25 billion.
This is partially due to a $185 million to $195 million shortfall in earnings at the company's hotels division, which was shut during the pandemic lockdowns, and increased operating costs across all its stores for COVID-19-related cleaning and security measures, Woolworths explained.The most important news, analysis and insights delivered to your inbox at the start and end of each day.
The wage theft figure from woolworths just keeps on getting bigger. $390 million is nearly 50 times more than George Calombaris underpaid his workers!! Woolies deserve at least the same level of contempt and anger from the general public that George experienced.
please call it by it's proper name. wage theft. 'underpayment' is piss-poor. don't be piss-poor.
Surely they made $$$$$$ past few months especially putting the prices up
It’s WAGE THEFT
Great, they underpay their staff, now they are going get rid of staff, nice move.
Just like the ABC
Redundancies? Surely taking the absolute mickey. The company would have made incredible profits since Covid-19 started, and beyond. Would be more than enough to cover all 'underpayments', current employments, and a noah's ark rain event. PR Spin 101 by the company.
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Woolworths underpayments blow out to $390 million, flags redundanciesWoolworths has revealed the total cost of its worker underpayment scandal has increased by $75 million and the company has also flagged job redundancies | domp domp And these guys are still banging on about reducing wages According to Woolworths chairman Gordon Cairns, weekend penalty rates are an obstacle to job creation. domp why is it ‘underpayment’ for corporations but ‘theft’ for anyone else? domp A total of $390 million from woolworths now in “underpayment”, or what I rightly refer to as wage theft. That figure seems to keep growing too. $390 million is nearly 50 times more than the $7.9 million George Calombaris underpaid his workers.
Source: smh - 🏆 6. / 80 Read more »
Woolworths underpayments blow out to $390 million, flags redundanciesWoolworths has revealed the total cost of its worker underpayment scandal has increased by $75 million and the company has also flagged job redundancies | domp domp And these guys are still banging on about reducing wages According to Woolworths chairman Gordon Cairns, weekend penalty rates are an obstacle to job creation. domp why is it ‘underpayment’ for corporations but ‘theft’ for anyone else? domp A total of $390 million from woolworths now in “underpayment”, or what I rightly refer to as wage theft. That figure seems to keep growing too. $390 million is nearly 50 times more than the $7.9 million George Calombaris underpaid his workers.
Source: smh - 🏆 6. / 80 Read more »
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One million new cases in eight days: WHO chief's stark pandemic warningIt took more than three months for the world to record one million COVID-19 infections, but the latest one million cases have emerged in just eight days, the head of the World Health Organisation said. follow and retweet this to help a friend im reaching out to everyone who finds it difficult to eat or live or lost their job due to one thing or the other write me in my dm i believe your problem will be solved! im giving $10 to the first 200 people to follow my page and retweet my tweets drop your cashapp/paypal It's dangerous around other people. Period.
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Coronavirus pandemic 'accelerating' as the latest one million cases recorded in just eight daysIt took more than three months for the world to see one million virus infections, but the latest one million cases have come in just eight days, the World Health Organisation said. But 4.8 million have recovered
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One million new cases in eight days: WHO chief's stark pandemic warningIt took more than three months for the world to record one million COVID-19 infections - but the last million cases came in just eight days, the WHO says. WHO Bullshit WHO WHO Let me know when we have 8 m or 80 m deaths and I might start paying attention.
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