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Bonus Watch '11: BNP Paribas

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Apparently the French have some unhappy employees, who didn't know they were contractually entitled to nothing, on their hands.

From the mailbag:

"For some reason, BNP has a "policy" that you'd have to be here for full year to be qualified for bonus. Some bullshit that's not disclosed to its employees when they are hired or flagrant lie. Aside from incompetency aside, management has had a great reputation for being two-faced. They hire people mid year to justify their position and let the highest up take the pie.


Bonus Watch '12: BNP Paribas Employees Have More Grievances To Air

From the front lines: "Your BNP bonus story from earlier today missed the part that has BNP employees really rattled. The 4th and final deferred payment of the 2008 "retention bonus" was not paid out. It covered most employees who were here in 2008 and was pulled back because the bank fixed income department didn't cover ROE target. We were told on Feb 22 that we did not reach the 14.5 % target. ROE calculations are not clean and employees (including Sr. Management) asked to see exactly what was included in the calculation. The bank refused. Despite frequent attempts they're adamant about not releasing ROE calculations and acknowledged that we had 2.8 BB € write down on Greece. The CMIP plan covered hundreds of BNP employees. Clawbacks make sense but it's never happened on such a wide scale with so little information. What does 2008 comp have to do with the 2012 European crisis? Absolutely was like stealing."

Layoffs Watch '13: BNP

The French have suggested everyone gird their loins for big-ish cuts.