It is being heard that BNYM may be looking for a creative way to save on payroll by preemptively deducting stimulus money from paychecks. The rumor is that employees may be asked to sign a "Government Assistance Pay Reduction agreement" that will allow the company to deduct 100% of all stimulus money that employees receive from the federal government due to the COVID-19 pandemic. The money would then be used to establish an "employee emergency compensation fund" that would be used as a means to offset payroll expenses and increasing operating costs.
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Dumb statement...assumes BNY knows your adjusted gross income meaning your taxes which are private information. waste of space
It's a hard NO from me
Only company I ever worked for that increased exempt employees hours without any notice and no increase in salary.
This sounds like total BS.
The company should be held accountable for stupidity, and / or not carrying, but when people may stupid comments and dream stuff up, it just makes the company look like they employ a bunch of id–ts that probably deserve to be let go.
Not sure HOW they could do THAT, since the stimulus payments are an advance on the next year tax credit. Don’t just gossip. Read the rules! You DO work in a financial industry, after all.
It's total BS but it does sound like something corporate America would try to do if they could get away with it.
A little early for April's Fool's, no?
Really? Do you think for one second that doing something like that is legal??
You people will believe anything