January 24, 2012 > Bankrupt solar firm Solyndra eyes employee bonuses
Bankrupt solar firm Solyndra eyes employee bonuses
Submitted By Randall Chase, AP Business Writer
DOVER, Del. (AP), Jan 12 - A California solar panel manufacturer that received a half-billion dollar loan from the federal government before declaring bankruptcy is asking a Delaware judge to approve up to $500,000 in employee bonuses.
A hearing on the request by Solyndra LLC of Fremont, Calif., is set later this month.
Solyndra says the performance-based incentives will help it retain key employees whose work is critical to a successful reorganization and sale of the company's assets.
The bonuses would be for up to nine equipment engineers, up to six general business and finance employees, up to four facilities workers and up to two information technology workers.
The bonuses would range from 8 percent to 38 percent of a worker's base pay. The employees in question make between $72,000 and $206,000 a year.