Quote:
Originally Posted by cologal
At least at my company the bonus payouts are tied to company performance. If the company doesn't make the performance gates then the bonus is reduced or canceled. Did AIG make the gates....Make me laugh!
They gave themselves a 100% bonus based on the previous year. The automakers have contracts with the autoworkers...did these blue collar workers have to give back pay and benefits? You bet! Seems to me, a lowly blue collar worker, a double standard is a foot. Why should the AIG contracts be honored but the UAW contracts. I await your answer.
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First of all, these bonuses were retention bonuses. Many were working for $1. Put yourself in there place. Forget who the company or the amount of money for a moment. You work for a company that is in trouble. You naturally want to find another job. You are a valued employee and your leaving at this time would make it harder to recover but you have to think of your family. The company comes to you and asks, "Please work for 1 more year. We cannot pay you per week but if you stay for the year, we will pay you X." Would you expect to be paid if you agreed to stay and did stay the required time?
I have been in that position. I worked for a company that was acquiring other companies. In my opinion, I was a blue collar worker. I was a software developer, not management, not a wheel. My job was not guaranteed but they offered me a retention contract to get me to stay through the transition period. It was no way near the amount in question but it was in line with my wage. Should I have expected to get paid? To get paid regardless of any other agreements that the company entered it to after? The only way out of the contract would have been bankruptcy.
If AIG went into bankruptcy they may have gotten out of the contract but, they did not.
Do you want your contracts honored or not?