All companies want to run as efficiently as possible. One way to keep costs under control is to closely monitor the company's payroll and make adjustments when necessary. While many Texas companies can find ways to do this legally; unfortunately, other companies deal with this issue in ways that could be considered wage and hour violations.
Bloomberg LP -- owned by business magnate Michael Bloomberg -- is being accused of violating the Fair Labor Standards Act. The lawsuit against the company has been approved for class action status. This complaint will encompass hundreds of past and present employees who were allegedly denied overtime pay since 2012.
According to the complaint, the workers were forced to come into work before their scheduled work time, to stay after their shift ended and to work through their meal periods without compensation. The employees were allegedly not given overtime pay but were instead given days off to compensate. One of the former workers stated that he, as well as his fellow analytics workers, were expected to stay 15 to 20 minutes past their scheduled shifts. Others claim that they worked hours of overtime, not because they were forced to do so, but because if they did not, they would not be considered for promotions.
Bloomberg maintains that it did not break the law. This case would not be the first time that Bloomberg LP has been accused of a wage and hour violation. It is illegal for companies in Texas and elsewhere to skimp out on paying employees by offering them time off or any other type of trade in exchange for money. Workers who are involved in situations like this one, can turn to the law for help. If the claimants are successful in their cases, they may be awarded the overtime and other compensation that they believed they are owed.
Source: finance.yahoo.com, "Yahoo Finance Exclusive: Bloomberg employees sue for overtime pay", Nicole Goodkind, June 3, 2015