I'm assuming most of these employees are at will, without contracts. It's a bribe aimed at tellers and other grunts living paycheck to paycheck.45 days at 1.5x is nothing. That's 3 bi weekly paychecks
The heart of a modern bank is really just a bunch of numbers running on what is generally at the base level, a bunch of COBOL. If the servers don't stay up, there are no deposits. These are banks, so the servers are not "up in the cloud somewhere."I'm assuming most of these employees are at will, without contracts. It's a bribe aimed at tellers and other grunts living paycheck to paycheck.
Dont see a downside for those people. Even if people started looking for a job Thursday night it would still be several weeks at a minimum to get a new one.45 days at 1.5x is nothing. That's 3 bi weekly paychecks
Stay on please instead of finding a new job even though you're not gonna be employed past 45 days anyway
Dont see a downside for those people. Even if people started looking for a job Thursday night it would still be several weeks at a minimum to get a new one.
Right, systems integration is hard.I’m sure most of the people they are paying to stay are back office, not retail bank tellers. Even if another bank buys them that bank would be smart to try and keep as many of these people as possible.
The lowest unemployment in 50 years?A few days is being overly generous in this economy.
Now do labor participationThe lowest unemployment in 50 years?
And? Lower labor participation just means employers are more eager to get people who will start right away. The pool of available workers is smaller. Do you understand supply vs demand?Now do labor participation