Employees discover boss gave himself $100k retantion bonus after he claims all bonuses and raises are ‘off the table’, leading to mass quitting: 'The man literally rewarded himself for not quitting'

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    www 83 OPARTY LLARS 58E
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    CEO says no raises or bonuses this year… then gives himself a $100k RETENTION BONUS

    At my old job, the CEO told us during an all-hands that raises and bonuses were 'off the table this year.' Everyone was pi ed, but what could we do?
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    Times were tough, right? A month later, someone dug through a board filing and found out he gave himself a $100,000 retention bonus.
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    Yes. The man literally rewarded himself for not quitting. Meanwhile, half my department quit within 6 months.
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    Guess the retention strategy didn't quite work out the way he thought.
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    OP Nammmieee Crazy how 'retention bonus' means keeping himself around, but not the people actually doing the work. Half my department walked within 6 months- and honestly, good for them....
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    kubrick5150 At my place, Management said they can't afford raises. But the top 5 have themselves promotions (titles) that include huge pay raises. They can also afford to move to a new sky rise office complex and spend hundreds of thousands on the finish out. But nothing for the employees. Unless you're in IT. Then you get a pay reduction for on call hours. But at least we're still a family.
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    OP Nammmieee Classic corporate math: broke when it comes to salaries, billionaires when it comes to marble lobbies.
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    16BitApparel I'll do you one better. Fortune 500 company. Hired an external consultant with a bonus for achieving milestones of revenue and savings. Suggested two things: 1. You need to fire this entire department (savings) 2. You need to work with external company A and external company B to increase performance (revenue)
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    OP Nammmieee Ahhh see Consulting is just corporate money laundering with extra steps...
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    PhilosopherSad123 more people need to quit and give no notice
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    OP Nammmieee The real 'two weeks notice' is when your brain checks out months before you do...
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    UnicornSheets I think I figured out what their problem was, they didn't throw a pizza party
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    OP Nammmieee Don't forget the 'casual Friday' = priceless perk, zero cost to them.
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    www LARS 58E
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    dsdvbguutres A consultant's first order of business is to find ways to extend the duration and/or scope of their own contract. Never fails.
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    OP Nammmieee Funny how consultants always 'discover' the same solution: cut staff, hire their buddies, and extend their own paycheck.. hahhh
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    Travis Bickle09 Executives have no clue. My mom was an executive assistant to a president of a company. Once, he bragged to her about the size of his bonus. She told him that was more than she made in a year. He never did that again.
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    OP Nammmieee Executives love to flex... until reality checks them harder than HR ever could.
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    obviousfakeperson I mean, he *did* just save the company a ton of money. /s
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    OP Nammmieee Haha then - By that logic, firing the CEO would save the company the mostttt money.... Yeah, and I guess if they stopped paying employees altogether they would save even more. Absolute genius strategy. Lol
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    sarahin NewEngland I worked for a company that routinely announced no raises or bonuses due to how the company was doing, then posted billions in profits on the company intranet for us all to see. The greed in corporate America is astounding
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    OP Nammmieee Wow.. Amazing how there's never enough for the people who make the money... but always plenty for the ones counting it.
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    BigMax I've told this before, but we had something like that happen at a place I used to work. Medium sized company, startup, with a board of directors. The CEO was told by the board "Cut costs by X amount, and you'll get a $250,000 bonus." She cut costs here and there, and here's where it sounds made up, but it's NOT, I saw the documents. She was about $250,000 short near the end of the year. Guess what line item cost $250,000? The company bonuses. (Yes, they did line up almost exactly like tha
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    OP Nammmieee that story is wild but not surprising at all. It's like they'd rather burn the whole place down than let employees share in the success. Pure greed on display

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