There are rumours going on of an overall realignment of our compensation structure in the company. I don’t know what this means, but my team is sure talking about it.
Is this just a rumour or any truth to it??
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It’s only in the supervisor news, these bonus cuts have not been rolled out to affected employees. Good luck with the culture there Alex!!
I heard the allowance part of your salary might be rolled back
LOL this was presented to all staff about a month ago.
CLT meeting:
CEO: so it looks like we are saving over a $1B that the employees have found correct?
SVP: yes, we’ve found lots of savings and are forecast to save even more!
CFO: And we have $600M a month in free cash flow which is great as well
SVP: yes the employees have really outdone themselves lately.
CEO: to be clear the layoffs are still ongoing?
HR: yes, we are dropping more dead weight, oops I mean employees, every week.
CEO: Excellent. What’s our next steps?
SVP: maybe we could try and improve employee morale by showing them how lucky they are to even have a job!
CEO: right, good idea. Let’s cut their bonuses to really show them we care. About us! Hahahaha. Then we can ask them to save even more next year with fewer people.
SVP: And don’t forget the asset sales as well. We can make a good profit off that while shedding even more employees that way as well.
CEO: Excellent.
Yes, updated bonus structure has been rolled out to engineering staff. 'Aligning' LHSE and CVE structure.
(Title -- New Target -- LCVE Target -- LHSE target)
Admin/Tech -- 11 -- 10 -- 9/10
Entry Level -- 11 -- 10 --12
Eng -- 14 -- 15 -- 14
Sr Eng -- 17 -- 20 -- 17
Manager / Staff -- 20 -- 20 -- 20
Sr. Manager / Sr. Staff -- 25 -- 25 -- 26
Director -- 28 -- 30 -- 29
This is CVE, so I wouldn’t be surprised. I think they are making some adjustments in teams to align each legacy company.
They better not! That would be it for me!!