If the link isn't correct then the united voice members shouldn't protest after FWA decision.
Award rates for every hour on Sunday
Fast food $38.88
Qualified cook $44.98
Average worker (not included managers) $42/hr
Double time is $42
One and a half is $31.5
Sunday rate will be the same as Saturday rate which is only one and a half, saving of $10.5
8 hours * $10.5 = $84 per day for ordinary worker
52 days * $84 = $4,368 reduction in yearly wage before tax.
Crown's no. of employees 3,396 * $4,368 = $14,833,728
Annual savings are roughly 15m
Balance sheet
Receipt from customer 1,750,305,000
Payment to employee 1,392,522,000
As you can see the amount paid to employees are huge so the annual savings of 15m are helping to prop up its operating cash flow in which the amount will add up and up later on.
It could be good to build another casino in Qld and attract plenty of investors.
I'm a labourer and I understand the decision is not welcome at all but it's a good way to bring economy forward.
CWN Price at posting:
$12.24 Sentiment: Buy Disclosure: Held