Merrill Lynch trainee OT suit could become class action — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Merrill Lynch trainee OT suit could become class action

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in Human Resources,Overtime Labor Laws

Two participants in Merrill Lynch’s management development program are suing the firm, alleging they were not paid for overtime they worked during the intensive training period.

The two men claim they often worked 10-hour days and were required to work long hours on weekends without receiving overtime pay.

Merrill Lynch, the Manhattan-based wealth management division of Bank of America, began the program in 2011 as a tool for training new hires, but also generating sales leads.

The class of affected employees could grow to include as many as 100. The potential for damage awards Merrill Lynch might have to pay: more than $5 million.

Note: The Fair Labor Standards Act requires time-and-a-half pay for hours worked over 40 per week. Management personnel are exempt, as are outside salespeople. The Department of Labor and the courts have been narrowing exemptions recently, especially for those two categories.

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