Anyone else experiencing this frustrating BS?
My boss said a 3% raise is what the company can afford “and don’t expect higher raises because of inflation.” I scored a near perfect annual review and still only got a 3% raise.
Then shortly after our douche CEO is bragging on our website about record profits in Q1. It’s like, “don’t you guys remember telling me that the company couldn’t afford raises two months ago?”
The real reason we are profiting so much is because when the vendor increases prices, we pad the cost in the system to make more margin. We are basically screwing our customers and making it seem like the cost is higher than it actually is. The sales people don’t even know we do that because the cost in the system just looks like that’s the amount we paid for the product. Keep that in mind when you are at the store shopping and see really high prices on once affordable products. I’m sure a lot of companies are doing this.
The company is also using profits to do record share buybacks and increasing the dividend payout to shareholders. And they raised the forward guidance for the rest of the year because they expect more sales.