Monday, November 27, 2006

The Vanishing Holiday Bonus

Ahh, nothing says Merry Christmas at work more than an extra envelope full of dosh.

And nothing says the exact opposite of that more than no envelope at all.

Feel free to post (anonymous) comments on whether you think you'll be getting a lump of coal this year - or maybe not even that.

And know that you are not alone:

"As Christmas approached two years ago, Valerie Bent was looking forward to the sizable semiannual bonus she and her colleagues always received at the investor relations firm where she was a vice president. Although their salaries ranked far below industry standards, the company paid out 90 percent of its profits to its staff as a bonus.

But this time Ms. Bent and other employees received a shock: Despite the most profitable six-month period in the company's 30-year history, and contrary to everyone's expectations, managers reneged on the bonus. ..." (read more)

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