But that's okay. The executives still will be rewarded with "millions of dollars" in cash incentives and bonuses:
Executive vice presidents could claim retention awards of $1 million each, and senior vice presidents could get $600,000, provided they stay with the company until 2011, according to a filing late Wednesday with the Securities and Exchange Commission.You see, money is a necessary incentive for white collar execs. Not so much for those worker bees who deal with the customers and actually sell things. Pay them the same as a burger-flipper.
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"The purpose of the award is to ensure the stability of the company's leadership team," the company said.
Heads, the executives win. Tails, the workers lose.
2 comments:
I remember when Circuit City did this. Most of the people that I work with quit shopping there that day. I will pay $0.25 more at Best Buy just because of this move by CC. At least the company I used to work for just refused to give anybody a raise for a couple of years (until they thought salaries were more inline with what they wanted). I did not stick around very long at that place, I found a job with a company that has some idea of how to treat employees.
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