Eskom is paying its more than 46,000 employees an average salary of in excess of half a million rand each.<\/p>\n
This is despite announcing on Tuesday (11 August), that annual profits declined by as much as 50%.<\/p>\n
The power utility said that net profit after tax for the year ended March 2015, was R3.6 billion \u2013 down from a 2014 total of R7.1 billion.<\/p>\n
Revenue for the year improved to R147.7 billion, from R138.3 billion in 2014,.<\/p>\n
Employee costs amounted to R25.912 billion in 2015, from R25.62 billion in the prior year, with salaries for 46,490 employees up to R18.68 billion, from R17.37 billion.<\/p>\n
This means that Eskom paid staff an average of R557,367 in the 2015 financial year, as a total package, with an average base salary alone of R401,828.<\/p>\n
The total number includes all payments, including medical and post-employment benefits, leave, bonuses, pension bonuses and direct costs to the company.<\/p>\n
Staff were paid a further R1.68 billion in overtime for the year, and R1.38 billion in bonuses.<\/p>\n
Eskom paid its top executives a total of R49.2 million in the 2015 financial year, down from R62.6 million in 2014.<\/p>\n
The total was also down from R57.4 million in 2013.<\/p>\n
It should\u00a0be pointed out that former chief executive Brian Dames, who left the utility at the end of March 2014, took home a pay package of R15.4 million in 2014.<\/p>\n
Two subsequent CEOs, Tshediso Matona and Brian Molefe, shared nearly R8 million in total, including a salary of R3 million for Matona, and R3.8 million for Molefe.<\/p>\n
Half a million rand for every Eskom employee<\/a><\/strong><\/p>\n Eskom executives\u2019 pay hits R50 million<\/a><\/strong><\/p>\n