Does anyone recall NR writing a few years back about the rationale behind 13th month. I seem to recall it was in response to the based guys, particularly the Freighter guys, questioning why they didn't get it. He argued that different countries have different market norms for paying annual salary. Some it's 52x 1 week salaries, others 26x fortnightly, others 12xmonthly. For HK it was 13 monthly salaries for the year and he therefore thought it was inappropriate to apply what was one country's norm to another Counrty which had a separate payment culture (particularly when it cost him money
) Somehow don't think we will hear this argument this year!!
Researching a post for another thread got me reading my contract. My Clause 8.5 says..."In any year when profitability is marginal or negative, as determined by the company, the Annual Discretionary Bonus may be reduced or, in extreme circumstances, not paid."
Are these extreme circumstances...? SARs.. 911.. they struck me as extreme. We are in a cyclical industry, and now in the down cycle... is that extreme?...
PS Notice how I didn't mention the $US60m fine... Tony would be so proud
