As the economy teeters with uncertainty, it looks like people’s chances for a generous year-end bonus are teetering with it.
This year, 27% of companies across a range of sectors will not be awarding bonuses, up from 23% last year, per The Wall Street Journal.
Among those awarding bonuses:
- Lowe’s plans to spend $200m on bonuses for hourly workers.
- The Venetian Resort Las Vegas is giving $1.5k to all workers.
- New York-based printing company Sticker Mule is giving employees $1k bonuses to help weather inflation, despite its modest year.
On Wall Street, though, with bankers coming off a record 2021 that saw wildly inflated levels of activity, bonus pools could be as much as 40% lower.
Notably, in 2021, New York City securities workers got their biggest bonus payouts since 2006, averaging $257.5k.
Topics:
Economy
