Puzzling Juxtaposed Thoughts: (a) Pfizer's Cash Revenue Last Year Was $81 Billion; Net Cash Flow: $32 Billion -- But (b) It Wants $800 Back From Hourly Workers It Overpaid?

So. . . the figures above come from its annual SEC filing, at page 26. To be fair, most workers apparently didn't immediately realize they had been over-, or in some cases, under- paid -- in December. The hack / ransomware that caused the snafu struck a payroll processing firm (not an affiliate) that Pfizer hires to send checks, and do the calculations of withholdings, etc. for the hourlies. The hourlies. The lowest earners at the vast pharma multinational. [Sure I think workers ought to be honest, as a rule -- and return it voluntarily if they have it, still. But again, most spent it. It was Christmas, afterall.]

There is zero doubt that Pfizer may rightfully recover these sums from the payroll firm; and failing that, both of them carry insurance for this sort of thing. So -- in the ending throes of a pandemic here, and with gas hitting $4.50 a gallon in some places. . . it seems very small-hearted of Dr. Albert Bourla (who made $23.7 million all by himself last year) to insist that the families making under $50,000 a year, in many cases. . . be required to repay the $800. Here's the latest, from FiercePharma:

. . .In December, a ransomware attack struck Ultimate Kronos Group, a vendor that Pfizer uses to track work time and pay out hourly staffers, WWMT reported earlier this week. Employees were under- and overpaid as a result, according to a letter from the company obtained by the CBS/CW-affiliated news outlet.

Now, the drug behemoth is repaying those who were shortchanged—but it’s also asking overpaid staffers to return their surplus cash.

One anonymous employee told WWMT they hadn’t realized they were overpaid and had already spent the money Pfizer’s now requesting. . . .

So, Dr. Bourla makes in about four minutes in the office -- more than the $800 per family. Every four minutes. All day. He makes around $12,000 every hour of every day. Sheesh -- he should just cover this error, on his watch, from his pocket if there is no other answer.

I might (as a dark-hearted lawyer) also observe that, as a strict matter of blackletter law, in most states, "unilateral mistakes", at contract law (the mess-ups, on paying under even an at-will contract of employment, here) are said to fall upon the party in the best position to prevent the mistake. In this case, there is literally no input for the employees -- on which vendor Pfizer ultimately chooses as its pay-master. Pfizer, as a multi-national sophisticate -- ought to thank the hourly employees for their honest service, and. . . let it go.

I say so, very mindful that (in my considerable experience) this sort of trivial nit-pickery. . . leads hourlies to talk to unions (and the pettiness of upper management is often a chief complaint). Talk to the unions, about being represented -- about taking. . . a vote, as we saw this afternoon -- at Amazon (arresting Amazon employees who were handed food, by union reps, just inside the perimeter fence, among other things). Smile. . . .

नमस्ते