PG&E Corp can pay employees up to $350 million in bonuses this year to spur them...
SAN FRANCISCO - PG&E Corp can pay employees up to $350 million in bonuses this year to spur them to help meet the bankrupt California power provider’s safety goals to prevent wildfires, a judge said on Tuesday.
While the maximum cost of the plan is $350 million, PG&E has said it expects the likely cost will be around $235 million. “It was helpful for me to hear from him,” Montali said. “Bottom line is I will defer to judgment of management.” Investor-owned PG&E sought Chapter 11 bankruptcy protection in January facing the prospect of, potentially, billions of dollars in liabilities in the aftermath of devastating wildfires in Northern California in 2017 and 2018 linked or suspected to be linked to its equipment.
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