Originally Posted by
Flex88
Re the above post plus all the ongoing lawsuits in HK and in other jurisdictions regarding pay/tax or benefit compliance/labor law etc., give your opinion; just when do you think we will
"EVER" see a Director People
that has an
actual Masters or above degree in "Human Resources" from an accredited university (i.e. not the CX eLearning garbage or the CX?Swire "management" school they have started in HK.
It's all just a magnificent joke
Flex, methinks this will play out poorly unless there is some vehicle to make up for it in terms of coverage and benefits. But it does show the shallowness of depth of the decision makers that it even became an issue or publicized.
In a US venue with US based employees you cannot leave employees without IOD protection of some sort nor can you easily reverse tax/FICA decisions without consequence -- unless you provide some form of self-insurance and retirement equal to or above those lost. The US is the most litigious place on the planet with agencies that follow the maze of complex laws different ways for different people on different days -- the IRS being the most ruthless of them all.
If the F/As are happy with the action (perhaps by some form of internal coverage and pension contributions/scheme) it is possible little will come if it. But they've still flagged themselves with regulatory agencies who can cause great difficulty which is something I would not do.
If the F/As are unhappy with the decision there are huge vehicles for recourse which could make the hedging loss look like more of a speed bump.