Neiman Marcus employees who complained about getting squeezed even as the CEO is paid big bucks have finally caught a bit of break, The Post has learned.
After The Post revealed last month that the luxury department store’s furloughed workers were being asked to repay their company-covered health insurance costs within two months of returning to work, the company backed off the onerous demand, sources said.
“The employees are repaying the insurance, but now at a convenient pay plan versus the two months,” one employee who did not want to be identified told The Post. “Whatever time is needed will be given,” the employee added.
Staffers say the company softened its stance after The Post’s Sept. 27 exposé highlighting the payment demands in light of the CEO showing off his luxurious Dallas mansion in a Texas magazine.
The 11-page spread on CEO Geoffroy van Raemdonck’s “1927 Italianate-style house,” decorated with art by Andy Warhol among other luxury items, created a stir at Neiman because it popped up as rank-and-file workers were being handed either pink slips or bills for thousands of dollars in health insurance premiums the company shouldered for them while they were furloughed.
Neiman demanded the debts, which went to recently rehired workers, be paid off in two months. Staffers who said they couldn’t afford it after months of no income were told to take out a loan, according to the report.
Van Raemdonck, meanwhile, is in line for bonuses this year of up to $10 million.
Rival department stores, including Saks Fifth Avenue and Macy’s also paid for their employees’ health insurance costs while they were furloughed, but did not require them to repay the company once they returned to work.
Neiman, which emerged from bankruptcy on Sept. 25, is not going that far, but has softens its stance, sources said. Human resource executives said they would be “very flexible on the payments,” a second employee told The Post.
Neiman Marcus did not immediately respond to a request for comment.
A Global Asset Management Seoul Korea Magazine