Cosatu calls for bonuses for W Cape workers | Fin24
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Cosatu calls for bonuses for W Cape workers

Dec 14 2014 13:10

Cape Town - Cosatu has called on companies in the Western Cape to give all workers bonuses this year in addition to holiday pay.

Cosatu said: "The Western Cape economy has boomed as a result of the exchange rate declines, which means that companies have made more money, without any company based productivity improvements due to the owners.

"The economic data reports that the demand for luxury new cars in the Western Cape has risen, with many of the bosses treating themselves to a new Mercedes Benz due to increased profits. This windfall must be shared with the workers who make the profits possible in the first place.
"The bosses (called larneys by Cosatu) must start understanding that our long term survival is not sustainable if they do not build an economy that is more equitable and equal. This means that workers must get a more equitable part of the wealth they produce. It is ridiculous that larneys give their kids R20 000 to go and spend in Plettenberg Bay for a school-ending party over two weeks, but on average pay their workers R3 000 a month.

"The latest City Report reveals that the City has grown in levels of inequality, between White and Black and wealthy and working class communities. These levels of inequality increases, has seen working class areas grow poorer and the social problems increase as the extravagance grows in the rich areas," the Cosatu statement said.

cosatu  |  cape town  |  economy


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