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Remember that stock which the new Comcast owners of NBCUniversal gave to employees on the first official takeover day January 27th? Well, turns out you have to remain an employee there until the year 2016 to actually collect those 25 shares. As a source tells me, “Just when you thought Comcast/NBCU was being generous…. Nope. They are basically giving the equivalent of an annual bonus of $125 for five years — if you can last that long.”
Editor-in-Chief Nikki Finke - tip her here.
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Comcast is a good reason why the laws of supply and demand are bullshit, when it comes to services based on technology. I wonder what kind of havoc they are going to cause now that they have a grasp of the…groins…at NBC.
“Thirty years old and you still believe in leprechauns?”
5 years of slave labor and then laid off just before the 5th anniversary and the shares become valid. Typical.
Absolute disgrace. Shows just how arrogant, ignorant and obnoxious they really are.
Well, at least I’m not the only one being screwed by Comcast.
So what, I don’t get a bonus at all and I’ve been at my job for 20 years
It’s called: time to find a new job!
These big corporations are all greedy bastards making tons of money off of slave labor. Screw ‘em all. I hope NBC goes down the tube even more than it already is.
This is a ridiculous post.
Comcast didn’t HAVE to give their employees anything!
And the fact that they did is a testament to their commitmnt to their employees.
Secondly, that’s how stock awards usually
work- they vest incrementally over timea- with the full value being reached after a vestment period
Thirdly, it is impossible to put a value on what 25 shares of stock will be worth in five years
The award will very likely be worth much more. – think it is very strange tjhat anyone would take issue with being given stock value.
I feel like Comcast will be good in the end and better than GE. However, as an employer you really need to do more than put out a Credo on day one with some gifts. There is little mention of the Credo and little is being done to implement the vision of the Credo. The Credo is a great idea but poorly implemented. Little has been done while we have momentum to…If anyone who matters is reading this, please do more to bring the Credo to life. Time was spent surveying employees and they need to take the time and put it into action with substance behind the words.
Integrity: Do the right thing and treat people right. (Giving gifts with hidden strings, is that right)
Creativity: The environment and resources to dream new dreams. (Nothing done to improve the environment or morale.)
Teamwork: We are smarter and more dynamic together. (Only attempt at Teamwork I have seen is with executives, employees who do the work, no one cares)
Pioneering Spirit: The drive to invent the future (no words)
Ownership: Act like an owner not a renter
I’ll kill myself if I have to be here until 2016
years of labor and then,whoops, we are laying you off before you can collect…did anyone really expect this to go any other way?
LOL you thought you were getting a bonus? I worked there for a long time and I never even received my 5 year bonus. whoo hoo! what ever.
How incredibly stupid to announce a gift of stock to the employees to begin with. Now we know what little people they really are.
In all the years I worked there, we used to say that NBC stood for No Bonus at Christmas.
Looks like nothing’s changed.
So, yeah.
Really, can any of the snarks here come down off the perches you live on? Comcast was not obligated to pay any added bonus – no matter how great or small. This isn’t replacing any potential yearly bonus from what I have seen or heard. This is more symbolic in nature that employees are given the opportunity to own part of the company they work for and have a small financial incentive to grow with the company. Granted, nobody will stay in a position multiple years to collect $600+ dollars in stock value. However, if by giving free shares this could spur some employees to contribute to an overall stock purchase plan with the company and take greater control of their financial future.
Mr. Harbert, thanks for explaining your plan.
Sincerely,
It Still Sucks
A good employer should not do things as a gesture and gifts should not have strings tied to them. Also, you don’t present something as a gift and then later find out that it is only value if you are with the company for 5 more years.
They didn’t have to do anything. However, there are times when nothing is better. It is an insult to employees who work here.
Well said !! It is stupid management to make a gift to the employees and reveal the strings later. All you do is erode the employees trust with the fine print. A number of years ago GE gave the employees 10 shares of stock worth about $400 at the time. The stock certificates arrived in the mail shortly thereafter, and they started paying the employees dividends. Starting to miss the good old days already.
And as an added bonus you get a second salad slicer for free! You only pay for the additional shipping and handling.
Or they could give options every year like every other company out there does, instead of a bait and switch.
Giving options is pretty much free for them, and they only have to pay out the difference between the option price and the current price when they are exercised.