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.