Endeavour Energy execs on pay freeze

Endeavour Energy executives have been on a pay freeze for almost two years, according to a company spokesman.

Endeavour Energy executives have been on a pay freeze for almost two years, according to a company spokesman.

Endeavour Energy have refuted union claims of “executive greed”, stating its general managers are on salary freezes.

Electrical Trades Union secretary Steve Butler criticised the power company paying their executives almost $4.5 million in salaries and bonuses while sacking employees.

An Endeavour Energy spokeswoman said executive salaries were “in keeping with their significant responsibilities”.

She also said the salaries had not risen for more than a year.

“A wage freeze has applied to all managers, including the CEO and executive leadership team since April 1, 2014,” she said.

“This wage freeze forms part of Endeavour Energy’s efficiency reforms.”

The spokeswoman said the “regrettable” decision to cut staff was due to the Australian Energy Regulator’s decision to reduce Endeavour Energy’s budget.

“As a result of the AER’s decision there is neither funding nor sustainable work available for these positions,” she said.

“This is why we have consulted with employees and their representatives on the first 120 positions to become redundant.”

She responded to criticism of the company’s profit, saying the State used the funds for infrastructure like hospitals and roads.

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