Rbc Foreign Workers

CP

Royal Bank Chief's Frosty Meeting

The head of the Royal Bank of Canada met with B.C. union leaders on Wednesday to discuss the contentious issue of outsourcing and foreign workers. The meeting between the unions and RBC chief executi...
CP

Is It Time to Stop Coddling Canada's Banks?

In this day and age of free market orthodoxy, the banks don't like to think of themselves as having any sort of "moral obligations," only obligations to shareholders. But the protection Canadian banks enjoy -- the same protection that has allowed them to prosper internationally -- means that the banks do not operate in a free market environment, and if they want to continue having their cake and eating it too they should accept they have responsibilities towards the Canadians who have little choice but to bank with them.
CP

Just The Beginning

The Royal Bank of Canada has issued a printed apology to workers affected by their outsourcing arrangements, but the bank's public relations problems haven't gone away. After a week of backlash follo...
CP

RBC's CEO Isn't the Only Boss With an Obscene Salary

In response to the backlash surrounding RBC this week, and in particular, against RBC CEO Gordon Nixon, let's look at how CEOs are compensated. Last year, RBC posted record earnings of $7.5 Billion and CEO Nixon received a pay hike of $2.5 million with millions in stock and option-based awards, incentives, and bonuses -- for meeting or exceeding expectations set out by the board of directors. I thought that was pretty shocking until I read about other CEOs. What makes these people so valuable and worth so much to a company? Someone tell me please. The bottom line is that this type of financial abuse affects everyone.
CP

An Open Letter to Canadians

RBC has been in the news this week in a way no company ever wants to be.The recent debate about an outsourcing arrangement for some technology services has raised important questions. While we are compliant with the regulations, the debate has been about something else. Despite our best efforts, we don't always meet everyone's expectations, and when we get it wrong you are quick to tell us. You have my assurance that I'm listening and we are making the following commitments. First, I want to apologize to the employees affected by this outsourcing arrangement as we should have been more sensitive and helpful to them.
CP

WE'RE SORRY

Royal Bank's top executive moved to salvage the bank's reputation Thursday, issuing a public apology over a week-long outsourcing controversy that has also rebounded on the federal Conservative govern...