Telstra's Network Outages Means Execs And Senior Staff Won't Get A Bonus

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Telstra's rough few months at the start of this year may have turned some long-time customers off the company and onto competitors, but now Telstra senior staff and executives are feeling the pinch directly: a customer advocacy bonus for good performance worth millions has been withheld from the company's top brass.

Business Insider reports that at Telstra's annual general meeting, group CEO Andy Penn revealed that a performance-based incentive 'customer advocacy result' has not been paid to staff or managers. This comes after a half-year of high-profile network woes, with the company eventually shuffling $3 billion around to shore up the quality of its mobile and backhaul infrastructure over the next few years.

The exact value of that potential payout isn't clear, but BI says the difference in incentive remuneration to Penn for 2016 relative to previous years reaches nearly $500,000, while two Telstra COOs saw drops of over $700,000 and $600,000 respectively. [Business Insider]

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