Check your Amplify for this week's Grinching. Who does that? What kind of leadership takes money from people at Christmas? Godda-n.
16 replies (most recent on top)
@op Penny Pennington, that's who. And don't you forget about it. Penny is the managing partner. She can and will dock you whenever she wants! Now, get back to work.
@dz Doug Hill is and always has been a buffoon. It is not by accident he had to step down from his dream position as managing partner only about a year into his tenure. Jones should probably take down his managing partner picture on the first floor of the South Campus. They should probably take down Penny's as well. She is only three years in and her legacy will be one the firm will try to whitewash. There should only be four managing partners' pictures hanging, Jones, Jones, Bachmann, and Weddle. The other two pictures need to go to the trash heap of history.
@dz Penny has Doug Hill giving tours of Ted and Pat's farm. She has literally put the old codger out to pasture.
@op The answer is Penny and David Chubak dock employees a week's pay at Christmas time.
@dv Essentially what is happening is on the January 9, 2026 paycheck associates will only be paid for one week of pay (so half of their pay). They will receive a one time only bonus of $1,000 which will be withheld at higher bonus tax rates. If anyone falls short to pay their personal bills the firm is offering an interest free bridge loan. If you take the bridge loan it will be paid back via deductions from your future paychecks until it is completely repaid. I have tried to just give the details as they have been explained to us without giving my personal bias.
@ds Wait Doug Hill tried to ship his firearm from the mail room?! You've got to be kidding me?! This is the first I'm hearing of this LOL I'm in my 17th year how have I not heard this?! Wow. What a legacy to leave behind.
Reading from the field. Can someone explain what's happening?
@df What has always struck me is how these "leaders" are held in such high esteem. They are still human who are trying to do the right thing. They ultimately do not know what is right or wrong. They have had successes and they have had failures just like everyone else. I remember when Doug Hill tried to ship out his personal firearm from the company mailroom. How much of an id--t do you have to be to try something like that. Anyone else would have been terminated immediately. But, because it was Mr. Hill it was more than excused. It was just "Doug being Doug". That was an awkward phone call. Penny is just the same. No matter how much the company pays to dress her up in an airbrushed blazer she is still just a horribly flawed human being.
@dd please refer any questions to penny.pennington@edwardjones.com. I am sure she would love to ghost you. She does not care about your groceries, power bill, or your family. She only cares about herself and Mike. She and Doug Hill's $75 million dollar bo--r in the early 2000's are the two worst things to have ever happened to this firm. However, many feel David Chubak is well on his way to becoming the third.
Edward Jones currently pays for work completed. A paycheck on October 3, 2025 will include pay for work performed through end of day October 3. So, any "advance" pay will be one day or eight hours. The new pay policy starting January 9, 2026 will push the pay cycle back to Edward Jones not paying for work performed for at least one week. This allows Edward Jones to hold onto one full pay cycle and make interest on the margin as they do not have to pay it out immediately. They will be making money on the margin they have never made before. It is true many employers use the new policy. But, the current policy is just another way that made Edward Jones a unique place to have a career. Edward Jones used to be a destination employer. A place where people wanted to be hired on to because of uniqueness like this. Now Edward Jones is just becoming another run of the mill employer which is lumped into all the rest who views their employees as numbers and a necessary evil expense of doing business. Edward Jones' culture has been removed by Penny and her team. Five managing partners legacies included making Edward Jones a wonderful place to have a career. It took the sixth managing partner only a few short years to erase over one hundred years of hard work. Congratulations, Penny, you won. However, I do not know who would want the prize of this dumpster fire you have created.
A lot of people here are barely making it from one paycheck to the next, and cutting 40 hours out of a check right after Christmas is going to wreck them. This isn’t just a small cut, it’s rent money, it’s groceries, it’s the power bill. People are already maxed out from the holidays, and now they’re going to be forced into choices that no one should have to make just to keep their heads above water.
@az Yes, it will have extra withholding which means you will have to wait until tax season to get the unnecessary tax withheld back from the federal and state governments. Essentially Edward Jones is forcing you to give the federal and state government an interest free loan. I guess the better questions would be, "Does Penny and SM know how taxes work?"
@as do…. You know how taxes work?
@ae, taxed at 40% or more. So it's not a lot....
WTF are you talking about?? Did you not read the announcement? We’re finally doing payroll like every other company….you’re paid for the work you’ve performed. Also, what other company offers a one time bonus and if needed an interest free bridge loan. It appears to me ER missed an opportunity to reduce a headcount!!
You're also getting a 1,000$ bonus (assuming full time) for the inconvenience, which doesn't make it a lot better but it's something.