PG&E Wants To Give $235M In Bonuses Amid Bankruptcy
SAN FRANCISCO (CBS SF / AP) — Pacific Gas & Electric Corp. is seeking a judge's approval to pay $235 million in bonuses to thousands of employees despite the San Francisco-based utility's bankruptcy.
The money is intended to provide incentives to workers and will not be distributed if the company doesn't meet safety and financial goals, PG&E said in a court filing Wednesday. It said the bonus program has been restructured with its Chapter 11 case in mind and puts a greater emphasis on safety performance.
"In deliberately designing the plan this way, the debtors are sending a clear message to their workforce that the safety of the communities the debtors serve and of their employees is of paramount concern during the restructuring process and into the future," attorneys for the utility said in court documents.