A Detroit jury is hearing testimony in a trial that will determine whether online mortgage giant Quicken Loans owes overtime to more than 300 former employees.
The workers contend they were sales agents who made calls and are covered by federal overtime laws. Quicken calls the workers “mortgage bankers”.
WWJ Newsradio 950 spoke with Quicken CEO Dan Gilbert who said they were earning bonuses for their work and the law they are citing does not apply to them.
“[It’s] not only an old standard, but a standard that was never intended to be for, you know, professional workers who work in office buildings with ping-pong tables and slush machines and free cappuccino,” Gilbert said.
Gilbert says the overtime suit has no merit.
A verdict against Quicken could cost the company millions of dollars.