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MoneyJewellery chain Michael Hill underpaid staff up to $25m

23:15  11 july  2019
23:15  11 july  2019 Source:   smh.com.au

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Jewellery chain Michael Hill says it underpaid staff by as much as $ 25 million over the past six years, making it the latest major company to confess Mr Fels said workplace law penalties should be brought into line with consumer law, under which companies can be fined up to million, or three

Brisbane jewellery chain Michael Hill will be compensating its retail staff up to $ 25 m in underpaid wages believed to have accumulated over six years. The retailer discovered discrepancies in its application of the general retail industry award after an audit by PwC. The company will now be

Jewellery chain Michael Hill underpaid staff up to $25m© James Brickwood Michael Hill's CEO Daniel Bracken has promised to reimburse staff.

Jewellery chain Michael Hill says that it underpaid its staff by as much as $25 million over the last six years, making it the latest major company to confess to short-changing workers.

The ASX-listed group said on Thursday morning that an initial review of contracts and rosters instigated by its new CEO Daniel Bracken found "non-compliance" with the applicable award rates.

Michael Hill said a more detailed audit was now being undertaken "with urgency", and will take several months.

The cost of paying back workers what they are owed will range from $10 million to $25 million, the company said.

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Jewellery chain Michael Hill will repay its retail staff up to $ 25 million in wages. The move comes after finding errors in its application of the retail Michael Hill has now commenced a detailed review of all employee records, rostering practices and payments. This could take up to several months to

Jewellery chain Michael Hill underpaid staff up to $ 25 m . The ABC has admitted it underpaid up to 2500 casual staff over the past six years and has commenced an urgent

“We will move as quickly as possible to rectify any underpayments with those team members affected," Mr Bracken said.

Jewellery chain Michael Hill underpaid staff up to $25m© MARKSON SPARKS Supplied undated image obtained Thursday, July 7, 2016 of retail jeweller Michael Hill Chair Emma Hill posing for a photograph in a retail store. "I will be in contact with all team members today to apologise on behalf of the company."

Super Retail Group, which owns Rebel Sport and Super Cheap Auto, in February confessed to underpaying store managers about $32 million over six year by not applying overtime rates properly.

And in the same month Qantas said it had underpaid 55 head office workers by around $8000 a year each because it had not applied the relevant enterprise agreement.

The backpay bill could significantly dent Michael Hill's profit, which market analysts expected to be around $28 million next year.

Michael Hill's shares fell as much as 9 per cent on the news on Thursday morning, from 57¢ to 52¢, but by midday had bounced back to 56¢.

Softening the bad news, Michael Hill also said on Thursday that it had arrested falling sales at its store network in the most recent quarter, delivering same-store sales growth of 0.1 per cent.

Sales had been tracking at negative 4.8 per cent for the first three quarters of the year.

More to come

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