Employees according to this article will receive 90% of their bonuses, but that’s better than no bonuses and in years past many have received more than 100% of the amount they qualified for. One casualty of the consumer products good was the sale of St. Joseph’s aspirin this year.
Bonuses for Mr. Weldon though and other executives are not under the 90% rule. I guess we will know more after the report on January 25th. BD
Johnson & Johnson won't give eligible employees their full bonuses for 2010, citing hits to the company's reputation and the "mixed performance" for the year.
In an email sent to employees throughout the health-care giant last week, J&J's senior executives said those eligible for performance bonuses would get paid 90% of the recommended sum. About half of the company's 114,000 employees world-wide will be affected, according to company spokeswoman Carol Goodrich.
J&J had awarded its staff 100% or more of their bonuses the past two years, Ms. Goodrich said. Before then, she said, the company's individual businesses controlled bonus payments and some gave less than the full amount while others more.
The company is scheduled to report its full-year earnings for 2010 on Jan. 25.