Australia Post profit from wage cuts

Date: 15 October 2008

Australia Post must ensure its workers get a "fair share" of its massive $600m pre-tax profit, CEPU National President Ed Husic said today.

Mr Husic said it was unacceptable that Australia Post be gloating over its profit at a time when it was cutting its employees wages, conditions and services.

"Australia Post made over $600m in pre-tax profit off the backs off its staff - it has sliced around $5000 for every new postie it recruits," Mr Husic explained.

"It's done that by removing penalty rates from new starting employees, pushing for part time and casual employment in preference to full time work, contracting out work in regional areas and shutting down post offices."

Mr Husic said the Australia Post is calling for cost cutting and wage restraint, yet this report will also detail the type of corporate bonuses that would "make a sub-prime lender blush".

"Federal Government's of either political persuasion have said they maintain an arms-length relationship with this business, which is why they don't intervene on the issues that Postal employees are concerned about," he said.

"However, we note that this has not stopped either side of politics from extracting special dividends from Australia Post.

"The Liberals snuck out an extra $112m in 2007/08 - and this Federal Government will snap up an extra $155m in 08/09.

"Working families in Australia Post deserve better from a senior management group obsessed with its pay bonuses and profits than the conditions its' people work under."

For further information or media interviews

Sue Bellino, CPR on 0400 1888 25

For further information

Contact:	Ed Husic,National President
Union:	CEPU
WWW:	http://cepuconnects.org/

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