Description: Tim Hortons confirmed that it laid off 350 people – these job cuts came mainly at Tim Horton’s headquarters and regional offices. Employees mentioned that they did not see these job cuts coming and were blindsided, especially because when Burger King acquired Tim Hortons last year, there were no indication of job cuts. Source:… Read more »
Posts Categorized: Compensation & Benefits
Senior Target managers get large cash payout but no such payouts for front-line workers
Description: Target, which recently decided to close all its stores in Canada, will give out a large cash payout to its senior managers, however, there’s no such payout for its 17,000 front-line workers. Source: CBC Date: January 24, 2015 Link: http://www.cbc.ca/news/business/top-target-canada-managers-get-big-cash-payouts-as-stores-close-1.2930064 Questions for Discussion: Provide a rationale for why Target is giving a large cash… Read more »
CEOs make big bucks on corporate mergers and acquisitions
Description: Although studies have increasingly found that big mergers and acquisitions do not necessarily create wealth for shareholders, however, these big takeovers create tremendous payouts for CEOs who are selling their companies. CEOs of top 10 U.S. companies that were recently sold made an estimated $430 million. Source: CBC Date: November 21, 2014 Link: http://www.cbc.ca/news/business/big-takeovers-mean-big-bucks-for-bosses-report-finds-1.2844440… Read more »
Bank CEO’s are paid too much: TD Bank CEO admits
Description: Toronto-Dominion’s outgoing CEO, Ed Clark, admits that bank chief executives are paid too much. There is a growing spread between average incomes and what senior executives are paid at the bank. Source: CBC Date: October , 2014 Video Link: http://www.cbc.ca/news/business/td-ceo-ed-clark-i-m-paid-too-much-so-i-give-back-1.2818836 Questions for Discussion: Do bank chief executives deserve such high salaries? Why or Why… Read more »
Joe Oliver Cuts Employment Insurance Premiums to Spur Job Growth
Description: In an effort to spur small businesses to increase hiring, Finance Minister, Joe Oliver, announced a cut in employment insurance premiums for small businesses. It is expected that this will reduce small businesses’ EI costs by 15 per cent. Source: CBC Date: September 11, 2014 Video Link: http://www.cbc.ca/player/News/Business/ID/2514908320/ Questions for Discussion: Will this cut… Read more »
Companies to be penalized strongly for abusing temporary foreign worker program
Description: The Canadian federal government plans to come down strongly on companies that abuse the foreign worker program. As of December 2012, estimates indicate that were 340,000 foreign workers in Canada—an increase of 100% over the 2005 numbers. Source: Huffington Post Date: March 28, 2014 Link: http://www.huffingtonpost.ca/2014/03/28/temporary-foreign-worker-fines_n_5049295.html?utm_hp_ref=canada-business Questions for Discussion: Why do companies hire such… Read more »
Ontario minimum wage increases to $11.
Description: The minimum wage in Ontario is increased to $11 per hour. This means that Ontario along with Nunavut have the highest minimum wages in Canada. Source: CBC Date: Jan 30, 2014 Link: http://www.cbc.ca/player/News/Business/ID/2433960206/ Questions for Discussion: What are the different views from the workers and the employers? What are the benefits and drawback of… Read more »
Women corporate leaders say they’re overworked and underpaid
Description: A recent survey by a human resource consultant firm, Randstad Canada, found that women corporate leaders in Canada are overworked and underpaid in comparison to their male counterparts. Another surprising finding was that a large percentage of women employees felt that having a women boss can hurt them. Source: CBC Date: Jan 2,… Read more »
Swiss to vote on CEO pay
Description: Switzerland goes to vote on capping CEO pay to 12 times the pay received by the lowest paid employee in the company. The reasoning behind this referendum is to maintain some level of parity among the highest and the lowest earners in the country. Source: CBC Date: Nov. 21, 2013 Video Link: http://www.cbc.ca/player/News/Business/ID/2419872290/ Questions… Read more »
Public cost of low wages
Description: Sylvia Allegretto, Labour Economist at University of California, Berkley, discusses the high public costs of paying low wage to fast food employees: it costs U.S. public $7 billion dollars to compensate these employees. More than half of fast food employees are enrolled in U.S. public programs. Source: CBC Date: Oct 18 2013 Video link:… Read more »
