Finance Finance News Kathmandu staff pocket $1000 bonus after bumper year
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Kathmandu staff pocket $1000 bonus after bumper year

Kathmandu
Kathmadu said the bonus was an acknowledgement of the contribution of its team members. Photo: Kathmandu
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Outdoor lifestyle retailer Kathmandu has given its permanent staff a $NZ1000 bonus ($918) to celebrate the company’s record annual profit.

Kathmandu chief executive Xavier Simonet said it was “important to recognise the role [Kathmandu’s] team has played” in helping push the business’ sales up 11.7 per cent in the most recent financial year.

The move comes as the federal government’s penalty rate cuts set in and other employers, such as 7/11, Qantas, and Uber have all come under fire for their payment practices.

“We are delighted to pay out an exceptional $1000 one-off bonus to all Kathmandu permanent team members who are not part of an incentive program,” Mr Simonet said.

“This is an acknowledgement of the contribution of all Kathmandu team members to the continued performance and success of our company over the last three years.”

Last mont, ride share service operator Uber was accused of “wage theft” by its drivers, with the ABC reporting drivers were unhappy with Uber’s decision to introduce an “upfront”  pricing model that they said “frequently” under-estimated the cost of a trip.

Qantas, which this year posted a record underlying profit, is also facing a backlash after it was revealed the company’s $A2000 staff bonus would be paid only to employees after they’ve signed new wage agreements, according to reports from Fairfax media.

It also follows government’s controversial cuts to Sunday penalty rates, the most recent of which came into effect on July 1 this year.

These cuts hit anyone employed on a general retail, pharmacy, fast food, restaurant, or hospitality industry award. Some employees will lose more than $1500 a year as a result

Kathmandu’s successful results also follow Myer’s first annual loss, prompting a harsh reaction from investors.

Solomon Lew, chairman of Myer’s largest shareholder Premier Investments, described the department store giant as an “absolute disgrace”.

“Myer shareholders have spent the last year paying for Garry Hounsell’s retail traineeship,” he said. “Mr Hounsell must step down immediately or risk having his board spilled by a strong shareholder revolt at the upcoming AGM.”