From the tipline today:
Andersen employees were made whole through 6/26 based on current numbers. Employees received a separate check/deposit of the balance on our 7/3 payday. We will learn more about another potential check/deposit by 8/31.
We are also receiving $75/month stipend to put towards home office materials. There have still been no layoffs.
It’s a good time to live in the house of Vorsatz!
OK, there’s a lot going on here, especially in the first part. But before we decipher this, let’s flash back to early April, when Andersen folks were voicing their displeasure online about pay cuts being implemented because of Rona fear:
Cutting pay ranging from 5-14% from anyone getting paid less than 100,000 to 40-50% of anyone getting paid more than 700,000. This will be effective on the next pay period. No reversals planned as of now, including after the COVID situation is resolved.
Well, the COVID situation has definitely not been resolved, but apparently things haven’t been as bad as Vorsatz & Co. had first thought. According to the Andersen tipster, the pay cuts are still going on but …
We were reimbursed for all lost income through 6/26. That was the separate check.
The decision we expect to hear about on 8/31 will be to see if we will be reimbursed from 6/27 until 8/31 and/or if regular pay will be restored.
Very few accounting firms that cut pay during the pandemic have offered any type of salary reimbursement to employees, at least that we know of. If that is indeed happening at Andersen, and we have no reason to doubt our tipster, at least that’s some good news in this hellhole dumpster fire that we call 2020.