Shares in Adecco recently slumped by about 30 per cent, after auditors and the company board announced reporting and financial management problems in its North American operations.
Shares in Adecco recently slumped by about 30 per cent, after auditors and the company board announced reporting and financial management problems in its North American operations. The company reported that the release of its audited accounts would be delayed, pending the resolution of possible accounting, control and compliance issues across its operations in various countries. Adecco did not identify which countries or regions it is currently investigating, however it said that some problems had already been corrected while others were “being actively addressed”. Group CFO Felix Webber and Adecco Staffing’s US CEO Julio Arrieta have both resigned in the wake of the announcement.
Unions achieve level playing field: NSW
New South Wales employers face paying site rates to labour hire workers and engaging only those labour hire companies that have union agreements following a decision handed down by the State Industrial Relations Commission. The ruling was on an appeal by the Electrical Contractors Association of NSW against certification of a number of agreements between the Electrical Trades Union and companies which contained the restrictive clauses. The Industrial Relations Act 1996 does not permit the approval of an enterprise bargaining agreement if it contains matters that are not ‘conditions of employment;, according to Kate O’Connor, senior associate in Maddocks’ Workplace Services Group.
Rail workers fail breath testing standards
Eighteen railway staff from across New South Wales have failed random on-the-job breath tests in the past three months. More than 6,500 tests have been carried out on all rail workers across the state, with a number of RailCorp signallers, trackworkers and station staff failing to meet strict standards. No train crew have failed breath tests, but 10 of the 18 staff have already been sacked and the remaining cases eight are currently being investigated, according to RailCorp chief executive Vince Graham. He believed the results show the vast majority of the 15,000 rail staff across the state are aware that safety is a number one priority.
Foreign exchange tax rules catch out expatriates
New rules for the taxation of foreign exchange gains and losses could trap the assets of inbound expatriates working in Australia. The new rules, in amended legislation passed by Federal Parliament in early December, are designed for the taxation of forex gains and losses recorded by corporate entities. The rules also apply to residents with overseas financial assets, with major implications for overseas executives and professionals working in Australia, according to Deloitte. Under the new rules, realisation of gains and losses would occur whenever currency was used, debts were repaid or when contracts were terminated, said Deloitte Tax partner Sally Morton.
Malaysia bans mini-skirted staff members
A conservative state within Malaysia will ban non-Muslim women from wearing short-sleeved blouses, mini-skirts, long skirts with slits or figure-hugging dresses at work. In a bid to stamp out indecency, Hadi Awang, chief minister and leader of the Islamic party in the hard line state of Terengganu, said Muslim women will have to wear headscarves and loose dresses to work. Employers who fail to comply are under threat of losing their business licences or risk being fined up to 250 ringgit ($66) if their workers disobey. Women’s groups have lobbied against the planned ban, labelling it a violation of basic human rights.
Posties rail against corporate doctor line
Australia Post employees are lobbying to overturn new rules that will require them to see company doctors if they claim they are sick. Communications, Electrical and Plumbing Union Victorian branch secretary Joan Doyle said the policy was a form of harassment, and workers would not sign up to a new enterprise agreement until the policy was scrapped. “We’ve had people with broken bones being told to go to work when their own doctor says they're not well enough,” she said. However Australia Post said the policy was designed to prevent sick leave abuse, and would only come into force for workers who showed a high pattern of sick leave use.
