NewCo Capital Group Pays Special Bonuses Having Maintained Full Salaries and Benefits Packages Through the Difficult and Ongoing Pandemic.
- Thanks Employees for Being a Part of the Small Business Economic Recovery.
NewCo Capital Group (“NewCo” or the “Company”), a leading provider of services, tools and capital to the SMB ecosystem that fosters growth for small-medium business across the United States, announced it completed paying special bonuses while increasing existing compensation packages to current employees all of whom are greatly appreciated and valued within the organization.
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Over the last 18 months, no employees were asked to take temporary pay reductions as NewCo Capital Group understands that its employees and contractors are the core competencies that define the exceptionalism for which the organization is known. Unlike some of its lesser counterparts, at no time did NewCo need to furlough any employees during the pandemic. Furthermore, the organization believes that it had a responsibility to assist its employees during this difficult time. The Company believes that its action to pay special bonuses and increase compensation packages are consistent with the organization’s values and culture.
In December 2020, CNBC reported that a MagnifyMoney survey revealed that roughly 1 in 3 full-time workers experienced a pay cut due to the coronavirus pandemic. NewCo believes that not only did most companies not pay any special bonuses to their employees, some providers of capital unfortunately forced pay reductions of at least 10 percent on their already underpaid staff.
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Albert Gahfi, CEO of NewCo, said, “We founded NewCo to promote a sustainable-funding solution for small business owners while providing greater opportunities for our employees and contractors alike. Newco’s delivery on that promise is consistent with that mission and we’re proud to be a citadel during these difficult times. Our values and corporate culture continues to guide us and NewCo will continue to deliver an exceptional product and retain its position and influence as a Preferred Merchant Cash Advance provider within the industry.”
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