Bonuses flow at the SAQ

The financial results of the Société des alcools du Québec (SAQ) have proved lucrative for executives and employees who will share the record $ 10.6 million in performance bonuses, Le Soleil has learned .

According to figures obtained under the Access to Information Act, bonuses paid by the SAQ increased by 19.6% compared to last year, when $ 8.9 million was distributed across the province. network.

Executives and non-unionized staff will receive the bulk of the prize pool, or $ 7.4 million. This represents an increase of 24.6% compared to the financial year 2015-2016.

Workers in the Technical and Professional Staff Union (SPTP) will receive $ 1.6 million (+ 4.2%) and finally the employees of the Workers’ Union (STTSAQ) will also receive $ 1.6 million, compared to To $ 1.4 million last year. It should be noted that these offices are not available to employees of the Union of Store and Office Employees (SEMB).

For the last fiscal year, just over 2,100 executives and employees out of a total of 7,000 workers were able to take advantage of performance bonuses. These amounts will be paid over the next few weeks.

On the SAQ side, the bonus increase is justified by the good financial results of the crown corporation. Last Friday, the SAQ tabled its annual report to the National Assembly. Sales reached $ 3.1 billion, an increase of 1.6%. The SAQ awarded the government $ 1.086 billion (+ 1.8%) for the fiscal year ended March 31, $ 7.7 million more than the government’s target.

“To explain the change in variable compensation with last year, we must go back in the budget 2014-2015. The Quebec government had demanded that the SAQ not increase the payroll for the years 2014-2015 and 2015-2016. This year, this requirement was not integrated. We have a full bonus, “spokesman Renaud Dugas told the Sun. In 2014-15, bonuses paid were in the order of $ 9.2 million.

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However, the SAQ wishes to point out that the cuts – close to 190 positions since the beginning of the year – will have an impact only on the finances of 2017-2018.

“The impact of departures will be felt on the amount of variable compensation only next year. The people thanked for the relief were entitled to the bonuses for the time they worked during the past year, “said the spokesman.

According to SAQ data, Alain Brunet, the President and Chief Executive Officer, received a salary of $ 410,067 last year, in addition to a bonus of $ 61,510, for a total of $ 471,577 . This is a 7.6% jump from fiscal year 2015-2016 when it had received $ 438,424.

A total of ten senior executives from the SAQ alone shared more than $ 650,000 in bonuses. Vice-President Catherine Dagenais received $ 83,553, $ 18,837 more than in 2015-2016, and Vice-President Raymond Paré received $ 93,188. This is the highest bonus. Excluding performance bonuses, Ms. Dagenais earned $ 279,741 and Mr. Paré earned $ 312,000.

Together, the ten executives received $ 3.1 million in compensation.