Judge OK's $44M In Bonuses For Calpine Employees

Law360, New York (May 16, 2006, 12:00 AM EDT) -- In an effort to stem the flow of employees abandoning the company, bankrupt energy provider Calpine Corp. has won court approval to distribute $44 million in bonuses to nearly 20% of its workforce.

In asking the judge to greenlight the bonuses, Calpine said that employee morale has been low since the Chapter 11 filing and that attrition rates have jumped dramatically.

Employees are abandoning the company in droves, at a rate nearly four times greater than what it was last year, Calpine said in a court...
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