Pay cut coming after the one year anniversary for all of the overpaid legacy Spectra survivors.
Anybody knows if there is any truth to this, or is somebody just trolling because they have an issue with Spectra folks? This is the first I heard of it, so I'm leaning toward the latter option, but still wanted to check.
So,there was truth to it.
The legacy spectra employees who will get a pay cut won't take effect until January 1 2019. Their titles and grades have been changed. Those are already effective, but not compensation. HR hasn't published a harmonized pay scale yet. Guess they don't want those folks to know how far out of the pay bands their base compensation may be. They do know how much STIP/LTIP they will lose because everyone was informed of that when they got their letters with grade changes and titles. For some it's a big cut.
A small percentage of Legacy Spectra are going to see pay cuts. This is part of the 'harmonization' effort.
potentially 1.5% of the total organization could see pay cuts, but not base pay, adjustments to STIP/LTIP. These are likely VPs and directors that got adjusted down to Director and Manager and see STIP/LTIP adjustments to reflect that.
No truth to this