What % are bonuses this year?
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Was this from an announcement
We're not going to be getting bonuses after a $97 million dollar FY loss
Any real bonus plan went out the window once we were taken over by private equity. Sure, there's officially a "plan" and a "target," but the company's revenue goals are so out of whack with reality that you know any real bonus is unattainable by the first day of the fiscal year. Even when the 2013 bonus was paid out MH found a way to be weasel-y about it. He said it was "6% for the 9 month fiscal year" (they had changed the fiscal year from January to April coming out of bankruptcy). Anyone who could do basic math knew immediately that it was a 4% bonus. A 4% bonus being the high watermark for the past decade is beyond pathetic. But, hey, leadership tells us we're here to disrupt education and change lives! Cengage employees don't do it for the money! If that's really the case, they should follow their own advice and divest themselves of their stock plans.
My first few years at Thompson bonuses were 15% and there were times we beat plan and they were even more. Moral was so high back then.
When we became Cengage everyone got vested in the 401k, no matter how long they had been with the company and bonuses were paid out at 15% in our checks following the meeting. Some people were upset because we were expected to beat plan.
After that bonuses were either missed or smaller. 2013 is the last year I remember any bonus being paid and before that it depended on business unit, etc....
At least we have a new quiet office we can all be proud of!
Cengage Bonuses = Unicorn
What's a bonus?
The past three years my baseline miraculously moves in a direction at just the right moment so that MH is able to avoid paying my bonuses... This pleases me since I’m sacrificing for the continuation of the collective and the success of dear leader and executive team. Kool aid? Yes another glass please.