Originally Posted by ruthlessboss
What's the difference between a Euro and a dollar? Did they consider it a paycut? Or just didn't want to be bothered to get it exchanged?
If they got paid 50Euros and are now paid 50 Dollars it is a paycut.
Plus, since the currency exchange is flexible and if the Euro is devalued it is less money for them as well. If you are from a European country and you are relying on sending money back being paid in USD is the worst you can have.
I can see why Costa North America does it. Just 5 days ago for a payment of 100 Euro Costa North America had to pay about $130. As of today it is $133 (approx). Based on the straight currency exchange. Costa may save money paying them in USD but the employees have less money. For every $100 they get paid a few days ago they received 78 Euro. Today it is roughly 75 Euro. And living cost in Europe did not go down. Plus, they leave it up to the employees to pay the charges for conversions. So they probably get another 5-10% less, at least. And if they convert money at an US airport on their way home they get totally ripped off.