ringbark
Jul 18, 09, 12:21 pm
I'm surprised nobody has mentioned this here yet. See http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6715521.ece for details.
American Express, the global financial services company, has effectively cut the pay of its 6,000 UK staff by stopping payments to its stakeholder pension scheme.
I have heard from some commentators that this is generally regarded as the last action before a corporation starts shedding jobs. If this is the case, then we can be pretty sure that morale at Amex will be low. Customer service standards may well fall, IMHO, along with limits, promotions and anything else that isn't vital to their core business.
American Express, the global financial services company, has effectively cut the pay of its 6,000 UK staff by stopping payments to its stakeholder pension scheme.
I have heard from some commentators that this is generally regarded as the last action before a corporation starts shedding jobs. If this is the case, then we can be pretty sure that morale at Amex will be low. Customer service standards may well fall, IMHO, along with limits, promotions and anything else that isn't vital to their core business.