Labour Court recommends replacing Maysteel's banked hours with Christmas bonus

In 2004, the Labour Court recommended replacing the banked-hours arrangement at Maysteel Teo with a Christmas bonus equal to the accumulated hours at time and one half, or 72 hours' pay. The Amalgamated Transport And General Workers' Union said workers valued the long-standing arrangement and had rejected the company's alternatives in a ballot. Maysteel said banked hours disrupted production and were difficult to administer. The Court found that the company had made a compelling case to end the arrangement. The recommendation was signed on 22 July 2004.