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Bloomberg Agrees to Pay Workers $3.2 Million in Overtime Settlement

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Michael BloombergChristophe Morin—Bloomberg Bloomberg via Getty Images

Mike Bloomberg’s $43.4 billion makes him the 8th richest man in the world, so it’s unlikely that he’ll terribly miss the $3 million his company agreed to pay its workers in lost overtime.

According to a report in the New York Post, Bloomberg LP settled a federal class-action lawsuit brought by salaried employees who argued they were eligible for overtime pay but never awarded it. “One plaintiff, Shervez Jackson, who worked at Bloomberg from 2008 to 2010, said that she worked about 10 hours more per week than what she was paid for,” according to the report. “Jackson was expected to come in early, work through lunch and later than her shift, as well as handle work and study at home,” according to the report.

The company will distribute $3.2 million to at least 499 workers, most of whom worked in customer service, according to the Post.

Bloomberg has a reputation as a company with a demanding work culture, and this is not the first time it has settled lawsuits related to overtime pay. Back in 2014, it paid 428 workers more than $5 million after similar complaints were lodged.