what’s going on at pearl island these days?
word is that citigroup is paying out $13 million (of your bailout dollars) because it had cancelled scheduled trips for employees. yes there are, of course, deposits and reservations that are paid for that would be non refundable but these payments are going to the employees themselves. in one instance, 1,900 employees are said to have been paid $5,000 instead of a trip to a resort in the bahamas. in another case, employees received debt cards. these cancelled trips are no doubt due a cut in overall expenses but there has been no explanation on why so much of these payouts are necessary . banks on the other hand are arguing that cuts to some perks are hurting employee morale at a time when they need to stay competitive. (i don’t know if they’ve heard but retaining employees are really not the hot topic these days.) my advice to the banks are they keep the trips but instead of a resort in the caribbeans, they drop off the employees on pearl island (survivor 7, survivor all star). those who survive 7 days gets to keep their jobs.
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