ARRIUM EA Outcome

KordaMentha, Administrators of Arrium, have provided information to the Chamber, regarding the recent OneWhyalla EA vote outcome, so please find below, key points from this communication:

The key terms were:

  • 10% wage reduction
  • Removal of superannuation matching
  • 4 year EA term
  • 3% increases in 2018 and 2019
  • Redundancy safety net.

KordaMentha are pleased to advise that the Steelworks employees have voted in favour of the proposed EAs.

The 10% reduction will be implemented from 1 November 2016.

The four year term plus the 10% wage reduction will assist the attractiveness of the OneWhyalla business during the sale process.

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