Rebellion over bonuses at Robeco: FD

Some 40 support staff at fund management group Robeco are going to court to fight a company decision to cut their bonuses, the Financieele Dagblad reports on Thursday.

Earlier this year, the management board decided to reduce the bonus for some 400 support staff by some 30% – or between 5% and 10% of their annual income.
There are claims that the money saved – up to €2mln – was used instead to give bonuses to 250 sales staff who had failed to make their targets, the paper says.
In 2008, Robeco booked one of the highest net profits in its history, the combined pay package for the executive board was €4.7m and one board member received a €2m golden handshake, the paper says.
Most of the 40 staff have worked for computer systems company EDS since the beginning of this year, when Robeco contracted out services.
‘Robeco has cut my client’s bonus retroactively without his permission or the permission of the works council. That is unacceptable,’ lawyer Joop Nijhuis, who represents the workers, was quoted as saying.

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