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...because I won't be able to if I wait and lose my job," says the 27-year-old, who, fearing questions from her employer, spoke with TIME on condition of anonymity. By going under the knife ahead of her potential job loss, Sophie can use the firm's supplementary health insurance to cover the $4,000 procedure. As she says: "Insurance is one of the parts of having a good job you take for granted until you realize you may lose...
...jobs are disappearing from Madrid to Mumbai - employees are scurrying to exploit company benefits while they have them, scheduling dental exams, indulging in massages, utilizing company-covered therapists and buying bicycles at discounted rates. "People are petrified," says Dai Williams, an occupational psychologist at Eos, a career-consulting firm in the U.K. "It's a question of grabbing what you can while you can." (See 25 people to blame for the financial crisis...
...before. Graham Farquhar, a partner in Ernst & Young's employment tax division, says the mad rush "is reminiscent of what we saw during the downturn in 2001," with employees suddenly acting on perks they may have forgotten were on offer. Katarina, who lost her marketing job with a cosmetics firm in Frankfurt, joined a gym before her last day to secure a corporate discount, which saves her $40 a month. "I've been unemployed for the past month but my gym membership is still the rate of a working person's," she says...
...York City A Rebound on Wall Street Goldman Sachs made a startling announcement on April 14 that for once had nothing to do with bankruptcy or federal intervention. The bank posted better-than-expected earnings--more than $1.8 billion. More strikingly, the firm revealed it had sold $5 billion in stock and plans to use the money to repay the $10 billion in TARP funds it borrowed in October 2008. In clearing its debt, Goldman hopes to free itself from the restrictions-- like those on executive pay--imposed on firms that received bailout money. Last year...
While many domestic manufacturers increasingly rely on undocumented workers who earn minimum wage and receive no benefits, Patrick credits his company's environmentally friendly business practices, above-average pay and good employee benefits for making the firm more, not less, competitive. And he lays most of the blame for the decimated manufacturing industry on an uneven playing field with China. "The [previous] Administration refused to make China play by the rules," he says. "If China stops the illegal subsidies they're giving their industries and does something to offset the currency manipulation, we're good...