3 ms·
> To people who don't work in finance, maybe it seems reasonable to take away bonuses from employees at a failing bank. It sounds crazy to me. If the roles wer
by PragmaticPulp 4y ago
> To people who don't work in finance, maybe it seems reasonable to take away bonuses from employees at a failing bank. It sounds crazy to me.
If the roles were reversed and a tech company had delayed bonuses due to internal financial troubles, the pitchforks would be out against the company.
The article explains that this was really just normal, scheduled payroll processing. It just happened that bonuses were scheduled on the March 10th payroll, which had been scheduled ahead of time.
Basically, they were operating as usual and paying out the money owed to employees as they agreed to doing. They were operating like normal right up until they were taken over.
Withholding employee's earned and scheduled compensation wouldn't have kept the bank liquid.
- rahimnathwani 4y agoThey were operating like normal right up until they were taken over. No they weren't. I know people who couldn't withdraw money on Thursday, the day before SVB paid these bonuses.