SPC workers’ perks cost bailout

The following article from the Australian Financial Review is well worth a read:

Employees of SPC Ardmona, whose bid for a government bailout was rejected last week, get nine weeks of paid leave a year, including public holidays and a five-day Melbourne Cup long weekend.

The perks are among the generous over-award conditions that contributed to the Abbott government’s decision to reject the Victorian-based fruit canning group’s bid for a $50 million federal-state handout.

Wages at the ailing plant are between 38 per cent and 58 per cent above “modern award” levels and have increased by 29 per cent since 2005, even as the ­company has fallen on hard times and had to seek a bailout.

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