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Cash Store Financial Services Inc CSFS



NYSE:CSFS - Post by User

Comment by catchmeifyoucanon Jul 21, 2014 4:13pm
601 Views
Post# 22767220

RE:RE:No collection bonuses for Ontario

RE:RE:No collection bonuses for OntarioAtaloss, re: "bad apples" that they "got rid of". I'm sorry to tell you this. You're stuck with just about every bad apple available in that industry - your new management team.

Handsome six figure salaries (in some cases seven figures) and KERP bonuses are being paid out to people who are there to do nothing but sell off that company in pieces at a lowball price. They don't actually care about any of you and if they tell you that on conference calls and interoffice memos, know that they're doing it just to get you to complete work so that they can earn the dollars that they themselves are draining out of the dying company. 

They should be ashamed of themselves. Portraying themselves as heroes when they themselves are culprits of unethical practices. Not one of them know what the inside of a store looks like. Not a stitch of experience in the industry and they're deeming themselves as good apples. They're more crooked than any employee that ever left CSF and it's quite obvious based on what you just explained Ataloss. 

I urge all CSF employees to get informed and do it fast. Consult with provincial and federal human rights commissions and labour ministries. Talk to government bodies about what’s been going on since February, how other employees were treated, learn your rights and about the government programs available to you when your day comes. Just get informed and do it quickly; before the hammer drops on the sale. For all those who were laid off- get your claims into your provincial bodies in ASAP. It's a long process. 


For Ontario specifically:
Being left in the dark the way you have, and being excluded from employment programs could be deemed as a breach of human rights in the workplace.


Federal Human Rights Act. Of interest may be sections 9, 10, 11 (6).
https://laws.justice.gc.ca/eng/acts/H-6/page-1.html#docCont 

For Ontario Human Rights Commission 
https://www.ohrc.on.ca/en/ontario-human-rights-code


Exemption to certain parts of the federal Act are possible if there is a bonafide reason(s) to do so. Who knows, maybe willfully neglecting payday loan collection laws, and instructing staff to collect upon <deemed> payday loans in Ontario for five months (with quietly provided scripting) and then saying "oops, now we can't pay you a bonus", is a bonafide reason to "deprive or tend to deprive an individual or class of individuals of any employment opportunities." Or, maybe not.


Add potential Human Rights breaches onto HR's list of layoffs without pay, temp layoffs to weasel out severance payouts, and a BONUS DRIVEN MANDATE to cut employees so that there is enough money left over to pay out those handsome salaries and bonuses. All of it done with no regard of employee rights under federal and provincial laws and with no way to explain such disregard. 

Even more questionable though, are the bonuses being paid to the non-regulated provinces as it compares to the Ontario situation. Why was lending in non-regulated provinces halted in the first place? Was it not because the new senior management group felt that the broker model was unethical/unlawful or rather, questionable under the Criminal Code definition of a criminal interest rate? So then, would it not be just as unethical/unlawful/questionable to collect upon such loans and pay bonus to employees for those collection efforts? Is it apples and oranges...or just a bunch of bad apples? 

Stay classy CSF management. 
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