Executives cashing in with above inflation pay cheques

A new report released by Price Waterhouse Coopers, has found that executive directors paid themselves more than inflation last year, despite telling workers not to demand big wage increases.

Gerald Seegers , Director at PWC, joins Stephen Grootes on the line from Johannesburg.

He says you need to look at it overall, though it may look very inflationary. Some sectors have had bigger increases than others.

There is definitely now a crossroads we are going through, where the shift has moved to... say we can't just measure the level of executive pay and increases, we know also have to pay attention... and take action about public concerns about the level of pay.

Gerald Seegers , Director at PWC

He says there is a global shift looking beyond just the levels of pay, to community concerns. What have these companies done to alleviate poverty and unemployment?

We've seen it all around the world, where people start voting with their feet.

Gerald Seegers , Director at PWC

Cosatu's Sizwe Pamla says this is commonly seen even during an economic downturn like we are experiencing. He says these executives go to shareholders and propose restructuring, which in effect leads to workers losing jobs.

They keep pretending that that status quo is sustainable.

Sizwe Pamla, Cosatu

He says it is up to social partners to put pressure on business to cap these increases.

Listen to the interviews below:

Read More
'Formal sector has an interest in keeping this mining activity illegal'

'Formal sector has an interest in keeping this mining activity illegal'

At least 6000 people involved in illegal mining are currently believed to be operating in Gauteng.

Shakespeare may be phased out of SA school curriculum

Shakespeare may be phased out of SA school curriculum

The Department of Basic Education is considering reducing the emphasis on works of William Shakespeare.

SABC interim board confirmed

SABC interim board confirmed

Khanyisile Kweyama has been named as the interim SABC board chairperson.

Whatsapp encryption accused of helping terror groups.

Whatsapp encryption accused of helping terror groups.

British Home Secretary Amber Rudd demands police and intelligence agencies are given access to all encrypted messaging services.

Eskom board hid Dentons report to protect CEO - investigative journo

Eskom board hid Dentons report to protect CEO - investigative journo

Sikhonathi Mantshantsha says Dentons report raised allegations about acting CEO's stepdaughter involvement in Eskom contracts.

Van Breda trial live broadcast on hold for now

Van Breda trial live broadcast on hold for now

Judge Desai's earlier decision to allow cameras in court during the trial of Henri van Breda has been suspended.

Popular articles
Cape's blusterous winds too risky for the Mercedez Benz fashion week

Cape's blusterous winds too risky for the Mercedez Benz fashion week

Several shows of the Mercedes-Benz Fashion Week Cape Town 2017 had to be postponed due to the gusting winds.

Naked Scientist reveals the real cure for a hangover (and its not hot wings!)

Naked Scientist reveals the real cure for a hangover (and its not hot wings!)

Dr Chris Smith gives insights on what peaks your interest.

The rand is on a rampage

The rand is on a rampage

The rand is going from strength to strength. The Money Show’s Bruce Whitfield interviews Treasury One’s Andre Cilliers.

[CARTOON] Poephol With a Taste For Strife

[CARTOON] Poephol With a Taste For Strife

EWN's Dr Jack & Curtis take a look at the Spur confrontation that has taken the country by a storm.

Spur tightens its belt as 'two for the price of one' Monday burger special ends

Spur tightens its belt as 'two for the price of one' Monday burger special ends

The CEO of Spur says food inflation has played a big role in making this difficult decision.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.