Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

earningsITWeb reports that Altron paid former Altech CEO Craig Venter R15 million in a "separation payment" when he left the company last year according to the IT organisation's 2016 Remuneration Report.  

Venter was only with the company for five months of the past financial year and for that time received base pay of R2.6 million.  When adding up his salary, incentives, bonuses and the separation payment, he walked away with R21.9 million.  In 2014, his total package was R9.7 million.  Altron says the factors taken into account when determining Venter's separation package included the number of years of service to the group.  Venter’s hefty pay-out came despite the company reporting a loss of over R1 billion in total revenue for the year ended 29 February.

  • Read this report by Paula Gilbert in full at ITWeb


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