Later today, B.C. Transportation Minister Todd Stone will lay out a new vision for BC Ferries. The plan will likely include some sailings cuts, plans for future vessels, governance changes and more.
What it won’t include, unfortunately, is pay cuts to top executives and managers. From Mike Smyth’s great piece in the Sunday Province:
B.C. Ferries will now add the average annual bonus payment to the base salaries of these executives, while applying the “salary holdback” rule. There’s no word on whether the performance targets will be any more difficult — or ridiculously easy — to hit.
But the real winners in last week’s bonus “crackdown” were the 450 middle managers at B.C. Ferries who also had their bonuses “cancelled.”
Like top executives, these managers will also see their base salaries topped up by the average amount of the bonuses they received over the last four years.
But B.C. Ferries says these 450 managers will not be subject to the performance-based “salary holdback” rule.
“A holdback plan for this group is not feasible or consistent with the government’s policy,” B.C. Ferries explained. “In lieu, salaries will be adjusted based on historical four-year bonus-plan payments.”
Yes, you read that correctly: They’re all getting raises.
Previously, all these middle managers were required to hit performance targets to bag their bonuses. Now they will just be given the bonus money as part of their base salaries, with no strings attached. How does B.C. Ferries justify all this? They say they’re also bringing in a two-year wage freeze for all executives and managers and the moves will save the corporation $900,000 a year.
How does this corporation have the moral authority to demand sacrifice from ferry-dependent communities while still lining their pockets?
Is Canada Off Track?
Canada has problems. You see them at gas station. You see them at the grocery store. You see them on your taxes.
Is anyone listening to you to find out where you think Canada’s off track and what you think we could do to make things better?
You can tell us what you think by filling out the survey