In the UK, talk about reclaiming bonuses’ and pensions was quickly swatted away without serious debate.
There may be legal grounds to recover scandalous bonuses
I was interested to see this article about the general legal position of excessive bonuses in the Harvard Business School blog from a former GE internal counsel and now Senior Fellow at Harvard Law School.
“Moreover, countless legal experts have already suggested numerous reasons why it is likely that there is no ironclad legal obligation to pay the bonuses to the people who caused the problem. These range from legal theories about non-performance to equitable theories of recission or reformation due to fraud or unconscionable terms to the doctrine that governmental take-over excuses bonus payment because the point of the contract has been destroyed. “
HR needs to become more incisive
Why are we in the UK quite so fuzzy about what is going on? Did CIPD discuss these matters during its recent conference on Managing through a Downturn?
Who is taking seriously the reformation of HR that must happen as we work out way out of the recession?
About 30 people a day come to this blog looking for information on HR and the recession. What are the best links you have found?
Please drop a comment telling me of the best work you have found!
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