“Majedie slashes bonuses as profits dip 55% but keeps £24m dividend”

Jun 30, 2021 | Currencies

Your first instinct might be sympathy at the suffering of a workforce whose employer, yes, has not laid anyone off, but has cut wages by 50%. Then you ‘do the math’, as our cousins might say. Cutting pay to £18m for 62 staff brings the average down to £290,000. And dividends haven’t been reduced, so shareholders, which would include most of the top bods, will still have done pretty well despite everything. I think the reaction of, for instance, a care worker wiping bottoms on minimum wage, might be ’nice work if you can get it’.  

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