Bonus Watch '11: Level Global

Author:
Publish date:
Updated on

It probably shouldn't come as much of a shock that the employees of a business that's shutting down will most likely not be receiving bonuses this year but we can still allow them their pain.

"Level laid off all the analysts and PM’s. The only people left are executive committee, technology, accounting, 3 traders, and 1 ops analyst, maybe a few admins/random people. What sucks is that many employees had part of their 2010 bonus “deferred” until June 30, and signed documents of some sort that basically indicated they might not get any of it if the fund isn’t around. Obviously the laid off won't be getting that money but it's unclear if anyone left will either. Apparently they money may have to go to paying for other obligations like rent and potential legal fees."

Related