Anna Manz received a £100,000 increase from £650,000 to £750,000. Look at page 116 of the 2022 annual report. A 15.38% increase. Poor thing she must be suffering with the cost of living crisis. The guidance was to give bigger increases to staff on lower salaries. How many in the UK received an increase of this magnitude? What blatant hypocrisy!
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Several layoffs in the Middle East "high cost centers". All positions being reopened in Gdynia or Egypt. No managers being fired of course...
Also, one more ingenious strategy of cost saving was changing contracts of people working in Egypt or Nigeria, to be tied to the local currency and not to USD as before. People effectively got 50% lower salary for the past few months...
Hilarious isn’t it. These people come in mess everything up, outsource everything, get eye watering pay rises and benefits and then dump it all on the people who were quite happy how it was run before these seniors came in. Perhaps the staff should get to vote on the replacement ? Or are shareholders the only ones who get a say?
Gets a 100k rise then quits to take up a role "outside the fin serv industry". You will be sorely missed (by DS)
Same time we stepped into cost cutting of budgets, hire freeze and travel bans and we are only in May. Promoting Succession series is obviously clear message what kind of culture we are harvesting. It won’t be any better I’m afraid. After two decades here I’m only waiting for the redundancy package hoping they will fire me this year.
Those who got higher pay rises thoroughly deserved it after years of suppressed pay rises versus their peers. The ones who didn’t get bigger pay rises are probably paid extortionate salaries against what they actually do anyway…
Blackstone made billions off the Refinitiv sale to LSEG for _no_ work, apart from executing the usual lazy, paint-by-numbers Harvard MBA cost-cutting playbook. Guess who's paying for it?
I got a 3 performance grading (1-4 scale, 4 being the best) and got a 1.5% rise. Others with the same IPF but on lower salaries have got much more - as high as 8%.
From what I’ve seen, in the UK, 3% was considered a ‘budget-breaking’ pay rise in this year’s ACR.
What kind of increase did the UK staff get roughly, as a comparison? Thanks.
People are tired and overworked and not getting this level of increases. Budget are being cut now we know where the money is going.
It a £100k increase. Outrageous.
What … Shocked