Cygnus Employees Respond to ‘Bonuses’
Commenters skeptical of move.
This week, FOLIO: reported that Cygnus co-CEOs Carr Davis and Tony O’Brien plan to restore of some salaries that were slashed by 7.5 percent by means of a "bonus" to be paid mid-January. The bonus, they say, represents about 70 percent of the initial reduction absorbed by many employees in October. However, only salaried employees who do not receive commission, incentive payments or other bonuses will be eligible for this "restoration."
Based on the comments we’ve received since posting the story, there seems to be a discrepancy between the Cygnus executive team and the effected employees about how many people will in fact benefit from this initiative. When asked exactly how many employees will benefit from the "bonus restoration," Cygnus spokesperson Kathy Scott couldn’t provide an exact number, but claimed it to be a "huge percentage."
It appears some Cygnus employees disagree. See their comments here.