FREMONT, Calif. — After filing for bankruptcy on Sept. 6, the California solar panel manufacturer Solyndra LCC is now asking a Delaware judge to approve approximately $500,000 in employee bonuses.
The Huffington Post reported the potential bonuses would be distributed to nine equipment engineers, six general business and finance employees, four facilities workers and two information technology workers all of whom make between $72,000 and $206,000 annually. The bonuses would range from 8 percent to 38 percent of their individual base pay.
The bonuses are intended to persuade eligible employees to remain in their positions despite the current lack of job security due to the bankruptcy, according to the Washington Times. “You’re always going to have people you’ve got to keep and who would be hard to replace even in good times,” said David Epstein, a visiting scholar at the American Bankruptcy Institute. “But they become irreplaceable becauseof the bankruptcy.”
The company closed its doors last August leading to 1,100 people losing their jobs without severance. San Jose Mercury News, however, reported that the senior executives at Solyndra were issued quarterly bonuses ranging from $37,000 to $60,000 apiece.