Slater & Gordon has been accused of leaning on its lawyers to accept crappier contracts.
A project entitled "Rewarding You Fairly" is being carried out in a bid to harmonise the remuneration packages of the staff employed by the various legacy firms that now comprise S&G. Following review meetings with all members of staff, it is now known internally as "Rewarding You Unfairly".
One of the key sticking points is with some legacy Fentons lawyers, who have in the past been rewarded with very generous bonuses. They have been asked to sign new terms which give them slightly increased basic salaries but far inferior bonuses. An insider says that a majority of the lawyers told the firm where to stick their new terms, and as a result things have turned nasty. He claims that S&G is "turning the screws" and "bullying" those who have dug their heels in and claims that constructive dismissal actions are now in the offing.
S&G initially said it hadn't bullied anyone and that it would give a full statement, although it ultimately decided not to provide a comment. It did, however, do pretty much everything in its power to stop RollOnFriday from reporting the news. So "bullying" and "turning the screws" sound about right, along with "doh!" and "ambulance chasing".
Tip Off ROF
A project entitled "Rewarding You Fairly" is being carried out in a bid to harmonise the remuneration packages of the staff employed by the various legacy firms that now comprise S&G. Following review meetings with all members of staff, it is now known internally as "Rewarding You Unfairly".
One of the key sticking points is with some legacy Fentons lawyers, who have in the past been rewarded with very generous bonuses. They have been asked to sign new terms which give them slightly increased basic salaries but far inferior bonuses. An insider says that a majority of the lawyers told the firm where to stick their new terms, and as a result things have turned nasty. He claims that S&G is "turning the screws" and "bullying" those who have dug their heels in and claims that constructive dismissal actions are now in the offing.
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S&G yesterday |
S&G initially said it hadn't bullied anyone and that it would give a full statement, although it ultimately decided not to provide a comment. It did, however, do pretty much everything in its power to stop RollOnFriday from reporting the news. So "bullying" and "turning the screws" sound about right, along with "doh!" and "ambulance chasing".
Comments
Share price down from $8 to $2.60
Complete loss of investor trust with some massive investment houses dumping all S&G stock losing $m’s
Salaries cut in legacy firms
Investigations by several authorities into doggy accountancy practices
P**s poor advertising campaigns
Could S&G be the next big ‘fail?’
Hope not as I work there!
Stay classy, S&G.
"There are many people in the world who really don't understand, or say they don't, what is the great issue between a normal firm and the listed ABS world....
[i]Let them come to S&G![/i]
There are some who say -- there are some who say that share options for all is the wave of the future.
[i]Let them come to S&G![/i]
And there are some who say, in Europe and elsewhere, we can work with these acquisative bohemoths.
[i]Let them come to S&G![/i]
And there are even a few who say that it is true that listed firms are an evil system, but they permit us to make great riches.
[i]Lass' sie nach S&G kommen![/i]
And, therefore, as a free man, I take pride in the words "Ich bin kein S&G lawyer.""
Personally, I am grateful for being paid to work in a place where nothing works and nothing gets done because no-one can make a decision. If I had a pay rise, I may actually have to deliver for a living.