Centro fills pay packets to anchor jittery staff Source - The Australian Financial Review
In an effort to stave off poaching by its rivals, Centro Properties Group has awarded pay increases to all staff. Long-term incentives have also been adopted. The head of the Australian-listed entity, Glenn Rufrano, admits that some employees have left. Centro's share-based bonuses have become less appealing as the firm's share price has sunk. Management disclosed a debt funding shortfall of $A3.9 billion in 2007. Rufrano reports that negotiations about an extension to funding arrangements are proceeding "in good faith". It is expected that the extension will be granted
