financial woes - but not if you are the owner
Establishment: CORE: club
Location: 66 east 55th street, ny, ny
This place has had numerous issues since they opened. They have struggled financially since day one, and lost many \"CFO\’s\" and other accounting people who loved to share the shady practices that they no longer wanted to be associated with or potentially assume blame. Initially, they fired 30-50 employees within the first 6 months of being opened - because they were so far off on budget and revenue expected. As time went along there were always rumors, then one day the FOH staff realized that they were not being paid the tips they earned on events/checks. It is a private club, so there are no checks, and the servers never know the closeout each night - especially when it came to events. They eventually gained control over the matter and had to threaten for a year to bring in a lawyer to force an internal audit. The company, after a year, finally made a payout to the staff - but no one believed that it was actually the correct amount. It had taken so much time and caused so much tension in the FOH and club that they wanted it over and that was that. All the while, you have an owner living the lifestyle of the rich and famous - like the members who were convinced to join. The owner - would spend her summer in the hamptons - renting a house that would cost in the area of low - mid 6 figures for the summer - this does not include all the parties that the club threw, food, drink, supplies, etc…. Meanwhile, during the summer the clubs revenues fell so low that the bugdet was slashed and nothing could be purchased or fixed unless it was an emergency, yet in the hampton\’s life continued as normal. We existed in a club of haves and have nots. In addition to the reckless spending that ocurred during the summer, including helicopter trips to and from NYC for the owner and close friend(s) at a heft price tag, the owner also purchased/rented a new apartment a couple blocks from the club…the owner had staff at the club help her with the move - unpack items, take care of dogs, hang art and pick up mail. While the operations scraped buy the club gave away the farm so the owner could live the life. The next phase of this crazy club was when they decided to change the 401K program. Within the first six months there were apparent oddities with how the program was being handled - money was being taken out of our checks, but they were not being put into our 401K accounts in the legally allotted time. There were months when withdrawals from our checks were not being deposited, knowlingly. They were using our contributions to get them through tough times and the slow summer — and did not care.
This is such a black hole of bad stories - there are too many to tell. Yes, there are more. You do not want to work here - and based on a recent layoff of at least another 10-20 people, some who were department heads and others who were just hired a couple months earlier….they just eliminated 2 complete departments, who never were able to make money - and yet were around for over 3 years — i give the club another year or two if they are lucky to survive, and with recent economic downturn i hope that people who are still there find other jobs soon before the club has to close and they end up unemployed.
Everything listed above is true and then some. DO NOT WORK HERE…EVER!!!