This is beyond comprehension. Employees who worked at the company for two years and those who worked for twenty years are both offered the same package.
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Akihito Kawamura, chairman of the CFJ KK labor union, criticizing the retirement plan offered to 1,350 Citigroup employees. The retirement offer comes as the subprime-hit U.S. bank retreats from consumer lending in Japan. (Reuters)
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0
Statistician
No surprise. A greedy American bank that looks after neither customers nor employees properly. Following a sneaky change in their UK account charging rules I count myself lucky that I got clear of their clutches after they had only pocketed $100 dollars of my cash, it could have been much more if I hadn't been vigilant.
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Area66
"No surprise. A greedy American bank that looks after neither customers nor employees properly."
Is there another kind? Anywhere? Aside from my great aunt, who always looked after my piggy bank with great diligence.
I'm sure she was the last of the great bankers.
0
umioso
This is not without precedent. Jesus told a parable of workers who were hired early in the day and who endured the heat of the day and workers who were hired near evening. The master of the field paid them all the same. When the workers who bore the heat of the day grumbled, the master said, "Why do you grumble if I choose to do good? Didn't you agree to work for the wages I paid you?" From this parable Jesus taught that many who are first will be last and many who are last will be first in the Kingdom Of Heaven (This is like a koan. What is the sound of one hand clapping?
0
sandyT
ITs pathetic really . Everything Citigroup does is really pathetic. Right from eating up ppl's hard earned money to taxing ppl for using thier bank its amazing how this bank has still survived.
They are really a painful bunch of asses
0
usaexpat
All banks are in business to make money. They certainly put making money before their banking customers hence the crappy savings interest paid, high fees, and high interest rates on loans etc. These people worked for the bank in question why are they surprised to get the shaft when they've been helping Citgroup shaft customers as part of their employment? By the way, greedy American banks is pretty funny, all banks from all countries are greedy. I have held accounts or credit cards from banks both local and multinational both in Japan and in the US and all banks are the same.
0
DanManjt
“Capitalism is founded on greed and envy”
“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.”
“Advocates of capitalism are very apt to appeal to the sacred principles of liberty, which are embodied in one maxim: The fortunate must not be restrained in the exercise of tyranny over the unfortunate”
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Alphaape
DanManjt, You do realize that Marx never worked a day in his life, he lived off the income provided by his father until he died and his trust fund was gone. He also was a moocher off Engles, and when he died, so did that funding. All that was left was the money he lived off provided by his wife and her family and other sources. All while he could deride the very institutions that made is to that he did not have to work.
Is captialism fair? Sometimes yes, sometimes not. I feel for the people, I have been in the same situation. But the only thing you can do is move on. I know that sounds easy but that is all you really can do.
Another thing, in the old communist USSR, if everyone was an equal worker in the workers paradise, why is it that party officals rode around in Zil limos while the rest didn't?
0
dakery
This is more of a story of greed by the CEO and others looking for big bonuses. I am sure that those with 20 years will get shafted by comparison and those with 2 years with not get anywhere near what a 20 year employee would normally get.
0
Zen_Builder
I went through something similar.
My Company at that time decided to outsource the mainframe site of the IT division as they wanted to move towards Unix and didn't want to maintain 2 systems till the new one was finished.
Of course some staff like operations and a few engineers were to go with the mainframe to the new company, TILL we were told that we were not getting severance packages, pension payouts, etc as the company provided us with new jobs.
We all stood up and offered to hand in our resignations as we wanted those packages naturally. In the end we got them and the new company even credited us with years of service at the old place.
Naturally can't name the company but it is a MAJOR international company.
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DanManjt
Alphaape
I run my own company. I am no Marxist
The firt qoute, I believe, nicely illustrates the difference between modern times and Christendom. Greed went from Sin to virtue.
The second quote I quoted is from John Maynard Keynes. I think it accurate, in a way.
The last is from, if memory serves, Betrend Russel. Many around the world, including Japan, feel as he that Free Trade comes with its own tyranny.
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