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Europe’s largest neobank Revolut accused of non-payment of bonuses
CONTENT

  • Revolut criticized for non-payment of promised bonuses

  • The company said that employees had the right to refuse minor requests from colleagues

  • Claim consideration postponed due to coronavirus pandemic

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Former employee of fintech company Revolut sues neo-bank for illegal coercion to dismiss

Fintech startup Revolut was accused of non-payment of bonuses promised to employees. They took offense and sued the company.

Europe's largest neobank Revolut ...

Writes about this Financial Times (FT) with reference to ex-employees of Revolut.

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It is reported that a lawsuit has been filed against Neobank with an estimate of $ 5.5 billion due to forced dismissal. According to FT, citing Revolut employees, the company has promised monthly bonuses to new bilingual employees who can help serve its multinational customer base..

Voluntary-compulsory

Still, company employees say Revolut has repeatedly broken promises. The company’s policy eventually prompted some workers to start an informal “language strike” by refusing to translate documents like tax returns for verification..

Revolut argues that language bonuses are intended only for members of specific groups that support the most popular languages, including rare ones like Greek..

The company also stated that the translation of documentation was exclusively “voluntary” and does not fall under the language bonus policy.

Europe's largest neobank Revolut ...

Revolut representatives stressed that employees have “every right” to reject “non-material translation request” from colleagues.

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However, neobank employees see this statement as slyness..

Europe's largest neobank Revolut ...

An unnamed Revolut employee believes that a “minor translation request” is waived as a regulatory violation.

“Compliance is a document review.

Europe's largest neobank Revolut ...

How can this [request for translation of documents] be inconsequential if Revolut has millions of clients from France, Italy, Spain, Germany, Greece and many other European countries? ”Said an anonymous employee.

The FT also found an archived job record for Revolut, according to which, in 2019, the company was looking for compliance professionals with “impeccable” skills in at least 11 languages, including Greek.

Point of no return

Internal disagreements escalated to such an extent that another Revolut employee had to complain about the lack of language bonuses to London management, including Revolut CEO Nikolai Storonsky.

A month later, the employee had to choose between leaving the company “by mutual agreement” or being fired for disciplinary reasons, an ex-employee of the company said in an interview with FT..

Read also: Revolut announced the listing of four new cryptocurrencies

It is reported that the lawsuit was originally planned for consideration in the Krakow court in early 2020, but the coronavirus pandemic postponed the case indefinitely..

In October BeInCrypto editors reported, that Revolut is preparing to apply for a US banking license. Prior to Revolut, the popular American fintech startup Robinhood had already tried to obtain a banking license in the United States. However, in December 2019, the company withdrew the application from the OOC without explaining the reasons..

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