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Re: Troutman News GarveyGirl July 24, 2009 08:35 pm
According to a reliable insider, TS held an all assoc meeting this week. On Wed July 22, head honcho, Cardiac Spider, announced in his trademark stuffed-up, red-faced manner that there would be an aggregate 10% cut in assoc pay across all offices effective as of Aug 1, 2009. As he stumbled through his speech, he reassured assoc that TS was doing well and was financially sound. Spider emphasized that the modified assoc pay structure was solely designed to keep TS in line with "the market." Mandatory individual comp meetings were scheduled for the following day to inform assoc of their new salaries. Importantly, Spidey neglected to inform assoc of the fact that the pay reductions would be retroactive. Yes - RETROACTIVE. Retroactive to January 1, 2009. For example - a first year making $145K and receiving a 10% pay reduction will have his remaining paychecks recalculated to permit TS to recapture $14,500 by year-end or in the next 5 months. So what is that - @$3K a month held back from the 1st year's pay for the privilege of staying in the employ of TS? Classic.

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