Come on! Giving employees free coffee is an excellent way to motivate employees in these tough times and there is the added economic upside. Instead of “cash” payout, citi actually “purchased” giftcards from Starbucks. This helps Starbucks by generating revenue and possibly making a profit. As a result, it helps to sustain the economy by keeping more retail locations open and securing jobs at Starbucks. One thing that they could’ve done would be just giving a reasonable amount of giftcards that would just equal to 50-100 cups?
USA today announced that unemployment surges to 7.6% and more than 11.6M of people were out of work last month. Everywhere you turn you hear “economy in the US going into depression”. The media exacerbates this by exploiting the news and claiming that we are in the worst economy to date. Most recently, I went to the mall and realized that there are still tons of people shopping and buying. It is true that the consumer is cutting back on “must haves” vs. “what’s good to have”. So, back to the article above regarding citigroup and starbucks, I wish other employers would do the same and boost the economy at the same time!So way to go for citigroup!