Yes it does. We end up with guys like this prancing around.
Posted on 03/29/2020 6:33:55 AM PDT by Enlightened1
While Congress was working out the details on a bill that would provide Americans with stimulus checks, at least one Austin company was looking for ways to save payroll.
“The form says they are preemptively deducting funds from our paychecks. That number is based on what they’re anticipating the government relief fund to be,” a worker for the company told KXAN. The worker asked not to be identified in this investigation so as not to impact his company’s ability to continue doing business.
The worker said his company emailed a form titled “Employee Acknowledgement of ‘Government Assistance’ Pay Reduction” to some staffers on Wednesday. “In response to the economic crisis that is affecting all of us due to the coronavirus pandemic…(company name redacted) are hereby enacting the Employee Emergency Compensation Fund,” the letter stated.
The agreement would put workers under a “temporary compensation reduction that is in line with the assistance that it receives from the federal government related to the COVID-19 pandemic.” By signing the agreement, the company’s employees would have their paychecks between April 6 and April 20 cut by 100% of any money received under the stimulus bill.
The company would also take half of the $500 stipend allotted for dependents under the bill.
The worker told KXAN the company laid off a quarter of its workforce this week. He believed the company was using the salary cuts as a way to meet payroll. But, he thought the company hadn’t explored all options before making a “knee-jerk” response.
“The company that I work for is a national company and they make hundreds of millions of dollars in profit a year and instead of making sacrifices at the higher levels, they’re passing it on down to everybody else,” the worker said.
(Excerpt) Read more at kxan.com ...
Once you throw money around like candy
don’t expect angelic behavior.
Wow. What is the law behind this?
Did it say a company can’t do that?
The money was supposed to be for people out of work and I’m not sure how that veered so far off course.
And even then it could have been taken from the next tax year where they get a return, because if they were getting a return, that would mean they are doing quite better.
Throwing around money has consequences.
Identify the company.
http://www.freerepublic.com/focus/f-chat/3829440/posts
This is Fake News® until documented proof is presented.
What will you do with your check?
We really don’t need the money. We are debating what to do with it.
Donate to church or charity?
Give it to our kids? (All still working)
Give it to a family we know in trouble?
Give it back to the treasury?
Give it to a local government?
Spend it?
Exactly! More anonymous stuff. Provide the company name so the story can be validated. One question not answered - are these employees actively working or are they furloughed with the company paying them anyway?
Probably NPR
Yes it does. We end up with guys like this prancing around.
Many companies have continued to pay employees without layoffs to retain the employee. Meanwhile the business is not sufficient to support the payroll. The company is attempting to recoup some of their losses as the employees are getting money while still being paid. I personally believe that is a bad move both for morale, potential legal action, and word will spread to their customers of their actions.
The next FR fundraiser is starting in a couple of days...
If I had a surefire plan to make easy money, I sure wouldn’t tell anybody else about it, much less write a book.
The people who are making easy money are the people writing books on how to make easy money.
That’s good thought.
Un-named company. Un-named source. Un-embarrassed media.
Lay them off then.
There is free money and there is free money.
It is stated that all having taxable income < $75,000 will get $1,200 paid by the irs based on tax returns. The money will be payed into checking accounts by direct deposit. i qualify but so far as I know the IRS doesn’t have the bank account particulars required for direct deposit unless it is acquired from Social Security.
Then there is an additional $600 of unemployment benefits payed on top of the regular unemployment benefit. That is, unemployment checks will increase by $600.
My view is this article is fake news propagated by disgruntled anti business union types.
The law says employees must be payed a minimum wage and stipulates hours and such . Docking the wage is thus illegal
If the company needs cash to meet payroll, there are provisions to obtain that cash
The article is made up
This has all the appearances of a fake news story.
I always HATE when someone on here has the answer I couldn’t figure out
But then I guess that’ why I ask. :)
Of course that makes sense. You can’t dock pay because of a government stimulus. I should have realized that.
Thanks
Whatever you do don’t give it back to the treasury. They’ll just waste it in a worse way.
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