Four employees in my group various levels left in November and December for jobs with other companies. Is it true they will still be awarded STI even though they left the firm before the payout date? I heard several lawsuits were brought against the company for non payment of bonuses over the years by employees who contributed a full year but left before sti was paid the following year. Any truth here?
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Word to the wise…if you do plan on resigning, do NOT do so until you see the deposit hit your bank account…have heard some stories…
This year STI there will be some math done to make the employee look like a loser the management will take 20% cut from STI of low performers and provide it to high performers and to the management for coming with this brilliant idea and layoff low performers
I believe that if you are laid off then you STI for the current year is included in your severance. If you resign prior to the STI distribution date, then you lose it. Most folks usually resign right after the STI is handed out.
Well, someone has to pay for PZ's new $50,000,000 contract and I guarantee you it won't be the stakeholders.
The countdown to sti Armageddon begins now. The expense reduction estimates have been agreed upon by upper management, the employee cut lists have been compiled, and HR has been notified. The only question that remains.........how many voluntarily resign after sti is paid? This will determine how many get riffed or outsourced.
Once this number is known, things are going to get bumpy for many employees in low performing divisions. Good luck if you want to stay. 2023 is going to be a year of rolling expense reductions across the board.
I know for certain that people who resigned before sti was paid lost their sti. It goes back into the general sti pool, but it cannot be distributed to those employee in the same group who stay. It presumably roles up to management and disappears(exec bonuses). Maybe this is why there is a lawsuit?
Not familiar with the details of any lawsuit.