Job cuts for CanWest's
Canadian moneymakers;
bonanza bonus bucks
for Australian losers
Go figure. In Canada, with operating
profits
up, CanWest Global Communications Corp. takes
a scythe to its workforce. In Australia, with TV network
earnings
down, CanWest hands a multi-million bonus
to the boss.
(With apologies to Harper's Index):
Percentage of reduction in CanWest's Canadian workforce:
5
Percentage decrease in earnings at CanWest's Network
Ten in Australia: 25
Percentage increase in 2007-08 pay for Network Ten's
executive chairman: 70
Amount (in Australian dollars) Ten's executive chairman
receives
for year ending August: $5.81 million
Number of jobs CanWest is cutting (this time) in Canada:
560
Percentage increase in CanWest's Canadian operating
profits
between 2007 and 2008: 13
Amount Ten's chief executive officer took home last
year: $2 million
Percentage increase over year earlier for Ten's CEO:
64
Amount (in Canadian dollars) CanWest expects to save
with job cuts: $61 million
Percentage increase in pay for Ten's chief financial
officer: 49
Amount Ten's CFO took home last year: $1.05 million
Ten Network's value last year: $2.5 billion
Ten Network's value yesterday: $1.2 billion
CanWest share price in January 2008 on Toronto Stock
Exchange: $7.33
CanWest share price on Nov. 14, 2008 on Toronto Stock
Exchange: 73 cents
