SVB’s financial assistance: for employees only
The new leaders of the British branch of SVB not only renewed working contracts with former employees, but also granted them bonuses.
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The total budget for rewards amounted to about £20 million. Insiders claim that this compensation was given to employees to offset the depreciation of SVB UK stocks they owned.
Interesting fact: similar bonuses were paid to employees of the American branch just hours before the bank's collapse in Santa Clara.
Who needs financial stability when you have a one-time payout, right?
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