Tribune Asks Court To OK Bonuses
July 23, 2009 at 5:29 AM (PT)
TRIBUNE CO. has gone back to bankruptcy court to get approval to pay bonuses to about 720 employees, including its top-10 executives and 11 other core managers. The incentive plan would pay out a maximum of $45.6 million this year, with up to $10.6 million for the 21 core managers and $1.3 million for other employees, plus $9.3 million in performance bonuses for 23 operations leaders and $3 million for nine high-level executives.
The company filed a motion to get court approval for the bonus payouts on WEDNESDAY; the court will hear the motion on AUGUST 11th.