Qantas hit with record fine for illegal layoffs during pandemic

Australian airline Qantas has been issued a record $140 million fine for illegal layoffs during the COVID-19 pandemic.

The fine, issued by the Australian Securities Exchange (ASX), is the largest penalty ever handed out to an Australian company for misconduct. The layoffs, which occurred between March 2020 and March 2021, were found to be inconsistent with the ASX's listing rules, which require companies to consult with their employees before making significant changes to their workforce.

Qantas responds to the penalty

A Qantas spokesperson has said that the company is "disappointed" with the outcome, and that they believe the settlement agreement reached with the ASX is "in the best interests of all shareholders."

Background on the case

The case against Qantas was brought forward by the Australian Council of Trade Unions (ACTU), which alleged that the company had failed to comply with the Fair Work Act 2009. The federal court agreed with the ACTU, ruling that Qantas had indeed violated the Act when it failed to consult with employees and unions before announcing the layoffs.

Qantas has said that it is currently in the process of contacting affected employees, and that it will be offering them financial compensation as part of the settlement agreement. The company has also said that it is committed to consulting with employees and unions in the future, and that it will be implementing new policies and procedures to ensure that all staff are treated fairly and with respect.