Peter Sterne of Politico writes about the difficulties that International Business Times employees have had in the past month in getting paid.
Sterne writes, “Asked about the problems, the company provided a statement to POLITICO.
“‘We value our employees and partners and are committed to working together in building a world-class media organization,’ IBT co-founder and chief content officer Johnathan Davis wrote in the emailed statement. ‘We also take workplace issues very seriously. To that end, we’ve brought a new CFO that is working hard to mend these growing pains and ensure we’re positioned for smoother expansion in 2016.’
“‘The truth of the matter is that in the past we have not done the best job of managing our finances. However, we are doing everything in our power to rectify all issues as quickly as possible,’ Davis wrote in an email to staff on Tuesday night, after learning that POLITICO Media had contacted IBT staffers for this story. ‘In addition, many of you know that we have a new very experienced CFO who is working tirelessly to put more rigor into our financial management.’
“Until 2014, the company reportedly paid employees only once a month (which is technically illegal), rather than twice a month. One veteran IBT staffer said during the Monday meeting that this was not the first time that IBT had paid employees through wire transfers; the same thing happened two years ago, in January 2014. Another staffer said during the meeting that employees have always had to fight with the company to get expenses reimbursed.”
Read more here.
