Quicken Loans
No payday on 2-29-08 due to Leap Year?

Recently, the CFO of Quicken Loans sent an e-mail out to its employees letting them know that due to this being a leap year the company would not be able to release checks on February 29 but that they would be available on the following Monday, March 3 instead. No explanation was given other than that it was due to this being a leap year and the details of explanation would be far too boring to go into.

In July, the 4th falls on a Friday and that pay date was moved up to the 3rd. Why wasn't the same process followed in this instance, thus paying the employees on the 28th?

No other major corporations are delaying paying their employees due to this being a leap year. I don't understand how this can be.

Does anyone out there have any explanation that would clarify this reasoning?

What about the people working there that live paycheck to paycheck? This in many cases would be the individual's rent money if they pay on the 1st. Who is going to incur the late charges these employees will be hit with?

It appears that this is just another scam by this company to cheat it's employees and keep the money in play for the sake of accruing more interest, as if Dan doesn't already have enough money for most people's lifetimes!

If anyone out there can offer a "genuine" explanation, please do as I find this a rather corrupt way to run the "2nd best place to work for"!

Company: Quicken Loans
Country: USA
State: Michigan
City: Livonia
Address: 20555 Victor Parkway

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