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Finance Article Review - Assignment

   

Added on  2020-05-16

9 Pages1741 Words40 Views
Leadership ManagementPolitical Science
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Running head: EDITORIAL WRITINGEditorial WritingName of the Student:Name of the University:Author Note:
Finance Article Review - Assignment_1

1EDITORIAL WRITINGThe Financial ReviewJan 28 20187-Eleven Revelation of Worker Exploitation, Victimization and Gross Underpayment Australia’s one of the renowned convenient stores 7-eleven owned by Russell Withersand Beverley Barlow, has been busted for intentionally underpaying workers combining to$19,937 (Sivaraman and Turner 2016). The Federal Circuit Court has imposed on Jim Chien-Ching, the former Franchisee of the store, penalty of $28,000alongwith his company JS Top PtyLtd to pay $140,000 for deliberately disregarding law. As far as evidence suggest, Mr Chang hadwillingly concealed the actual amount that was being paid to an employee and inaccuratelyelaborated an amount of $25 or $30 per hour in order to hoodwink the officials. The penaltiesthat are now hanging like an apparition are only evidences of how employment exploitation andunlawful labor utilization will not be permitted in the country. According to sources, the Fels wage fairness panel is currently looking into employeemanipulation, tampering with data and inadequate pay(Vice, 2018). On an average, the workerswere paid $23, 000 less, each. Jude Jarrett further added that the act was committed in order toinflate company’s profit and dismissed a case of inadequate cash flow. The claims dates back to2013-2014 and since then the company had been reportedly amassing 57% of the gross profit.Over the few months, The Fels Wage Fairness panel has recorded 2,169 issues regardingunderpayment regarding approximately 60% stores. 7-eleven allegedly made use of force andcohesion by threatening to report the workers to the immigration department if they commit anyact of grievances. Apart from 7-eleven, 50 different stores spanning across the country were
Finance Article Review - Assignment_2

2EDITORIAL WRITINGraided by Fels Wage Fairness Panel and seized documents and rosters detect possibilities ofemployee deception. According to sources, the workers were paid for 20 hours even after they provided labor for 40hours, thereby exploiting and unlawfully retaining their money. Several media spokespersonalthough have criticized 7-elevenwage fraud, citing that it would be practically disastrous for anycompany to rip benefits without swindling the employees. An insider, who wishes to remainanonymous, has commented that for years the company has produced surplus profit based on asystem of slavery and deceit. Siobhan Hennessy, from Deloitte has commented that the workersfaced systematic intimidation, fraud and cunning in their workplace. An immigrant was alsophysically violated while protesting against underpayment claim. In regard to this, the financial discrepancy of hundreds of 7-Eleven stores has come to theforefront. Consequently, 7-Eleven has agreed to pay up to $25 million of wage fraud whichcould further sum up to $30 million if the claims exceed the former amount. However, onexceeding $30 million the amount will be divided in between the franchises and head office.FourCorners and Fairfax Media as accumulated documents which clearly indicates that the head-office only reviewed the payroll compliance after media started taking action against thebusiness model and wage fraud of 7-Eleven.The Fair Work Ombudsman Natalie James added about the possibilities of taking furtherlegal actions against the culprits of 7-Eleven. The government has vowed to formulate effectiveprovisions for the head offices to regulate unlawful employee exploitation by their franchises.Famous personalities like Michaelia Cash, has commented about the lapse administration thatpermits systemic underpayment of the employees and rampant practice of extracting money from
Finance Article Review - Assignment_3

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