Thumbs Up to The Mine Management, the workers who stayed with the company during those dark and depressing times have just been paid a rather large bonus....... This in turn has had a ripple effect through the local economy , if I am not mistaken, this is the 2nd bonus paid out in 30 days.....
I also believe that the diamond demand is improving and the workforce continues to deliver the carats ( although 600 short of the target), even though they are now drastically reduced in numbers.... see! It can be done!
bravo
sounds encouraging ... so despite the cost cuttings and feelings of doom and gloom something has panned out ... methinks the powers that be maybe had a discretionary fund for paying out bonus as a kind of lifter upper/ motivational thing .. our company has done it before one tricky year , just short of targets , but yes the workforce had out in their bit , so they paid out a bonus despite the fact that our bonus's are strictly profit over run linked .. ie break even and then only bonus paid ..
No I don't thinks it's a second bonus,
they said there would be three sections to the bonus depending on targets all the targets where reached.
The non barganing unit got there first section payout a couple of weeks ago and they will receive the 2nd and third part
The barganing unit will receive all three parts on Monday
present(1)
Well in that case ... the money was in already today, hence Spar being so busy....
They say if we meet all sorts of KPI's next year there will be lots more bonus's.
There was absolutely no money to pay for a salary increase.... so wonder were all this money is going to come from..... sorriso2
READ ... discretionary fund ... at shareholder discretion .... all depends ... although a bonus may be a short term , it seems to have a usual positive effect ,,,
No discretionary fund, did require shareholder approval though since it impacts the companies already large overdraft facility and payback terms. A big up to the company though, the union on the otherhand were being a bunch of 'dunderhieds' about the whole thing but saw the light in the end...
In our case the discretionary .. could be money squirreled away or as we do at times dig into operating overdraft ... but then not on the scale that Namdeb has ... makes me shiver thinking of such a huge operating overdraft as mentioned somewhere else on the site ... ... but then on the positive side ... nowhere near Dubai Worlds debt woes hey ??? catmusic
Quote from: Michael Alexander on December 20, 2009, 02:55:08 PM
Well in that case ... the money was in already today, hence Spar being so busy....
mmmmm................... today is Monday
Fire sum one in eng dept u know who and you can split his wasted salary amongst the deserveing lot who can use it ..........lol.lol.........
Chris, who would that be and from what year??????
Chris .... naughty naughty .... cl1