3 minute read.

On 1 April, Toll Group CEO Thomas Knudsen sent a message to all employees at 5.40pm local time.

Part of it was leaked to the press: In a story headed “Toll Group CEO takes 40% pay cut” (link), The Australian Financial Review (AFR) last week reported that:

“Knudsen, will take a 40% pay cut for the next six months and move some staff to a four-day week, as the logistics group struggles with the loss of business from big retailers shutting down stores ...

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