taxpayers to foot the bill for legal action by RBS staff!!!

louiser123

once again this country never ceases to amaze!!

i cant post the link to the news site for this i dont know how to do it but its on google news.

apparently the staff at rbs who say they had a guarantee for getting a bonus in the profit share scheme are to take legal action because they are not going to be getting the bonus.

hmmm seems all above board to me really simple how in the hell can they expect a bonus under the proft share scheme whan the bank are in trouble, asked for funding from the government and are billions in losses?? frankly in my eyes there is no profit so no bonus whats so hard to understand about that???

SGE1

louiser123 wrote: »

once again this country never ceases to amaze!!

i cant post the link to the news site for this i dont know how to do it but its on google news.

apparently the staff at rbs who say they had a guarantee for getting a bonus in the profit share scheme are to take legal action because they are not going to be getting the bonus.

hmmm seems all above board to me really simple how in the hell can they expect a bonus under the proft share scheme whan the bank are in trouble, asked for funding from the government and are billions in losses?? frankly in my eyes there is no profit so no bonus whats so hard to understand about that???

It's not as simple as what's "in your eyes". A legal entitlement is a legal entitlement, whether you like it or not.

And yes, we may foot the bill, but remember we're aiming to sell RBS in a few years when the sector has picked up, and we could make a profit on it. Will you still be moaning then?

louiser123

my point is and i stress this was a profit share scheme,

where is the profit??? i would not be expecting a bonus if i worked for any company who were in trouble like rbs, i understand they have contractual bonuses but my piont is and the operative word is profit, there aint none!!!

yes i probably will still be moaning then when and if we make a profit on it when it sells but that hasnt happened yet and to be frank i am in the mindset they should have been allowed to go bust.

pickles110564

louiser123 wrote: »

yes i probably will still be moaning then when and if we make a profit on it when it sells but that hasnt happened yet and to be frank i am in the mindset they should have been allowed to go bust.

Sometimes people make mistakes and some are more costly than others.
The banking sector will pick up again and as long as the correct regulations are put in place it will make the banks much stronger and they will be back to making large amount of profit.
At this point they will be able to be put back on the open market and sold which will bring in large funds for the country.
You will probably find that the bonuses that are written into the employee's contracts are not profit related and the banks are legally bound to pay them, what you think does not matter.

Zelie

A contract is a contract. If RBS breached a legal agreement then their employees have every right to pursue them over it. Law is law - we don't apply it only when we feel like it.

CLAPTON

RBS should have been allowed to go bankrupt, all contracts of employment would then be nullified; those that can get easily get high paying jobs elsewhere can do so.
For those that stay then new contracts without bonuses would be agreed.

Pound

Wasn't it someone at RBS that said, "I should get my bonus because I've worked hard for it. After all, I only earn £90,000 a year."

pandamonia

personally i want RBS to go bust. i just want to see their faces with no jobs to go to.

im sick and tired of these idiots who think they have legal rights when the company should of gone under. they are lucky to have a job.

Let them go bust and lets see them walk home tail between their legs