PG&E Corp. is asking a bankruptcy judge for permission to award as much as $235 million in performance bonuses to thousands of its workers after canceling similar incentive payments last year, Bloomberg News reported. PG&E wants court approval for its short-term incentive plan that covers employees who, under the 2019 plan, would be awarded bonuses if the San Francisco utility meets performance goals tied to safety and financial performance, according to a filing on Wednesday. Senior executives wouldn’t be eligible for the incentives, PG&E said. The company estimated a total bonus target of about $235 million, but listed an “aggregate maximum payout” of about $350 million. “The 2019 plan was formulated to provide continued market-based compensation and appropriate incentives for participating employees,” PG&E said on Wednesday, adding that safety accounts for 50 percent of employee performance measurements in this year’s incentive plan.
