Word: bonus
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Behind the bonuses-for-quitting policy was an effort to pare down the Inquirer's bulging head count-more than" 700 editorial and office employees. After an American Newspaper Guild strike last summer (TIME, June 23; July 21) in which job security on the overstaffed Inquirer was a major issue, management and guild agreed that to anyone who resigned or retired in the last half of 1958 the paper would pay a bonus of one week's pay for every year of employment, plus full severance pay (maximum: 31 weeks). The plan worked. In all, 142 employees quit...
...Bonus in Advance
...World War II and Korea transition go so smoothly? One key reason: the veterans found the way home paved with every comeback aid the nation could provide. The G.I. Bill of Rights and related laws offered what one vet calls a "bonus in advance," the most lavish assistance program in history (total Veterans Administration spending since 1946: $72 billion). Most important, the aid was given when and where it could help a man re-enter competitive society. U.S. Employment Service set up a nationwide job hunt. The VA guaranteed $50 billion worth of low-interest loans to help...
Last week Japanese security dealers opened a major campaign to attract more women investors. Some 6,000 salesmen began a door-to-door drive urging housewives to invest their husbands' winter salary bonuses-usually one to three months' pay-in stocks. Traditionally given in December, the bonuses used to go for rice wine, New Year's gifts and new clothes. Now a flood of mail urges Japanese wives to "multiply your huband's bonus wisely -in stocks. To become a millionairess is no longer an impossible dream...
...Indiana, a Midwestern giant which has belatedly joined the rush for overseas reserves and is ready to pay to get in on the comparatively few good areas still unallocated in the Middle East. For an offshore Iranian concession earlier this year, Indiana Standard paid a $25 million cash bonus, promised to spend $82 million in twelve years developing the area, and by accepting the state oil agency as equal operating partner entitled to half of future profits, in effect gave the Iranians a 75-25 share of total profits. The big established companies were bothered but not outraged...