AP Eagers (ASX:APE) apologises to employees for underpayment

Company News

by Rachael Jones

Car retailer AP Eagers (ASX:APE) has identified inconsistencies in its payroll system, which have unintentionally resulted in over six thousand employees not being paid their full entitlements.

Over a seven year period the total payment shortfall equates to $4.5 million.

It was discovered during a company-initiated review as they implemented a new time and attendance system to centralise its payroll systems.

These systems have been previously managed by individual dealerships, some of which were acquired by AP Eagers in recent years.

AP Eagers has self-reported to the Fair Work Ombudsman and has pledged to fully cooperate during any investigation conducted by the Ombudsman.

Shares in AP Eagers (ASX:APE) are trading 1.38 per cent lower at $10.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.