It’s a challenge that is leading to a concerning level of worker attrition, remuneration committee chairman Paul Rayner said. Qantas currently has a two-year wage freeze in place for workers as travel demand remains anemic across Australia and much of the world. In his CEO note, Joyce described trading conditions as “diabolical” for the company, with executive pay down 70 per cent across the entire executive team. The figures were revealed in Qantas’ 2021 annual report, released to the ASX on Friday. However, that huge figure reflects an 80 per cent – or near $8 million – reduction from Joyce’s 2019 pay of just under $10 million, and significantly less than his 2018 pay of $10.9 million.
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