Originally Posted by
flyerCO
From what I've read on multiple articles
1)management took much larger paycuts
2)management continued working full hours plus lots more in mostcases (no getting a paycheck while not working)
3)finally that while it gets called a bonus this had to be paid out, either contractually, as part of pay cut agreement, or for some other reason.
#1 and #2 seem to be constant across all articles I've read. #3 varies, but is consistent in that this wasn't just a random bonus. If this is true or not I have no clue. Regardless as OP said, bad optics.
So some clarifications to your post.
1)management took much larger paycuts
Everyone, other than the handful of unionized groups at DL, took a minimum 25% paycut starting early in 2020 and ending on 12/31/20. Directors, Managing Directors, VPs SVPs, etc. did take larger percentage paycuts in terms of their fixed compensation.
2)management continued working full hours plus lots more in mostcases (no getting a paycheck while not working)
Um, broadly inaccurate unless your speaking of more senior leaders, again looking at D,MD, VP and up. It was made abundantly and passionately clear when the pay cuts were issued that everyone (speaking of salaried and management in this case) picked your day or method of reducing your hours to 32. Prior to covid management (again broad term) often and typically worked more than 40 hours but never was compensated for it, that's not how it works in a salaried world.
3)finally that while it gets called a bonus this had to be paid out, either contractually, as part of pay cut agreement, or for some other reason.
Again, no for most who got this, other than a small number of the most senior for whom there may have been a contractual stipulation. I can assure you that noone in grade 8, 10, 11, 12,13, for example, have any guarantee of a bonus. Yes, they have at-risk compensation, but it is just that, at risk.