24 February 2016
The Collieries’ Staff and Officials Association today welcomed Yancoal’s decision to make concessions in negotiations over new employment contracts for its workers.
Director of the Association, Catherine Bolger said workers would benefit from an agreement which sees their redundancy entitlements guaranteed for another year.
In addition, Yancoal will continue to pay-out sick leave on retrenchment, at the salary rate of pay, and injured workers have been guaranteed not to suffer a loss of income when off work for up to 6 months.
“This is a big step in the right direction and provides some degree of certainty for workers, particularly if any of the mines close in the immediate future.” Ms Bolger said.
“The Association will continue discussions with Yancoal to ensure long term certainty, but workers are relieved their entitlements are protected in the meantime,” Ms Bolger said.
“We are happy that the company has moved on some of its positions, but there is more work to do.”
With a new deal to be signed that will see Yancoal issue $950 million in debt bonds to a private consortium, Ms Bolger hopes the company would look to secure jobs and entitlements going forward.
“The Association wants Yancoal to deliver on their promise to put in place a deed of cross guarantee that will secure entitlements already accrued by workers so they can’t be traded off in debt servicing negotiations.”
“We have achieved some significant concessions from Yancoal that will ensure staff get a better deal if the company continues to push ahead with their plans, including extending redundancy payouts to 12 months,” Ms Bolger said.