Wood Group Management Accused of Hypocrisy over 2016 Salary Bumps
Wood Group PSNs top management have been blasted by its striking workforce today after it emerged that senior bosses within the organisation have had hefty salary bumps in 2016, whilst regular employees are forced to take massive pay cuts.
Wood Group earlier this month defended its decision to slash worker pay and bonuses by as much as 30%, resulting in on-going strike action from some of its workforce. The defence of pay cuts comes as the company’s 2015 financial report reveals that some top executives received significant salary bumps in 2016.
Dave Stewart the Chief Executive Officer seen his salary rise from £570,000 in 2015 to £630,000 in 2016. An increase of over 10%.
Robin Watson the Chief Executive seen his salary rise from £379,000 in 2015 to £468,000 in 2016. An increase of over 23%.
Ian Merchant, the Chairman of the Board of Directors seen his salary rise from £205,000 in 2015 to £275,000 in 2016. An increase of over 34%.
A worker for the company commenting under the alias James Fury, stated: “Wood Groups Senior Management have BUMPED their salaries by the same percentages they are CUTTING from their employees. It’s disgusting! I’d like to see Wood Groups Management lead the way and take the same pay cuts that they have forced on the workforce, it certainly wouldn’t have the same effect at salaries in the hundreds of thousands, but at least they would be leading by example”.
If Wood Group were to align it’s 2015 top management salaries with the “23%” cuts to employees, it would see Dave Stewarts salary drop to £439,000, Robin Watsons to £291,000 and Ian Merchants to £158,000, a move that workers say “will never happen”.
