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San Antonio Current
Workers at San Antonio's Frost & Sullivan say they haven't received recent paychecks
By Stephanie Koithan,
22 hours ago
Employees of research firm Frost & Sullivan told the Express-News that they're behind on receiving paychecks. Employees at San Antonio-based Frost & Sullivan say haven't received their last two paychecks from the global research firm as it struggles with cash flow problems, the Express-News reports .
The global research firm, which purports to help clients weather the vagaries of the international business environment, cites cash flow challenges as the reason it's behind on paychecks, workers speaking on condition of anonymity told the daily. Reportedly, the first missed payment should have been received June 30.
The Current couldn't reach Frost &. Sullivan officials for immediate comment.
The issue affects Frost & Sullivan workers in the United States and Canada, the Express-News reports. The company's headquarters are in San Antonio, but many of its workers are located in the San Francisco Bay area.
Though it's unclear how many staffers the firm has in San Antonio, it has a payroll of 1,200 worldwide. Its headquarters are located in the Northwest Center at 75550 Interstate 10 West, but many of its employees work from home, according to the individuals who spoke to the Express-News .
On a July 3 Zoom call, Frost & Sullivan Global Managing Partner Krishna Srinivasan suggested that employees borrow against their 401(k) retirement funds to weather the storm, according to the employees cited in the report.
Executives at the research firm blamed financial underperformance for the payroll issue, according to the anonymous workers, although those people speculated that ongoing litigation also be part of the reason.
Frost & Sullivan faces one suit over a 2023 data breach that allegedly exposed sensitive employee and client data . In another legal action, the company sued former CEO Darrell Huntsman , maintaining that he embezzled over $1 million. The suit also accuses the former exec of committing fraud, misappropriating trade secrets and breaching his fiduciary duty.
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