Can anyone explain what the MIP bonus email is about from today? What's the change?
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It's a shame. While the little guys like us are putting groceries on credit cards because we are running out of money every month, the executives may have to downsize their beach house a little next year. With out of control inflation, how do we catch up?
Think about how much the company will save if they don't hit an AOI of 85% of the goal. It's a really BIG number! REALLY BIG! It will influence the numbers (artificially) on the slide that Karen will display next year at this time.
- Outstanding! I [HEART] CVS!
Real telling that the impact of this was deliberately made opaque.
So here is what happened. Karen took a giant hit on her stock, so now, the entire company of people like you and me will get NOTHING if we don't hit 85% of of Adjusted Operating Income.
The fact that they threw in the bullet point that includes "Health Care Delivery" is now eligible for bonuses means NOTHING if we don't hit the 85%. My guess was Karen threw in a little positive news into a HUGE negative news email to throw people off her deplorable decision.
This is freaking so typical of the "one percenters" in this world. One bad quarter and they see their millions shrink a little, and they INSTANTLY make quick adjustments to ensure THEIR money is safe.
Karen and the team already know we are not going to make the 85% this year. But her options will yield HUGE when every employees bonus is not paid out and put back on the companies BOTTOM LINE.
She may as well have told us GOOD NEWS EVERYONE -- We've enrolled you all into the "Jelly of the Month Club" instead of granting bonuses this year!.it's the gift that keeps on giving!!
I read widening the curve as that company wide, MIP came into play if we hit 95% of our target EBITDA. Now it comes into play even if we hit 85%. Essentially making sure that even though this year is heading into choppy and alters, we can give out some bonus. Mostly executives making sure they earn their millions. It has nothing to do with how many people get bonus. That is my read.
It translates to “we’re raising your healthcare premiums, giving you teeny salary raises, and slashing your bonus payouts, to ensure all our employees are poorer than ever”
Includes healthcare deliveries NPS now
They’re widening the curve which means fewer people will be eligible for payout and everyone else can expect less than what they received in previous years with similar performance.