A staff to retain at all costs – Celsius can offer more $2 million to some of its employees in order to retain them. L’effective of the company would arrive at a critical threshold below which the company would find it difficult to continue its activities.
>> For your crypto purchases, register on the eToro platform (commercial link) <<
Celsius: employee bonuses to keep operating
According to a recent Bloomberg article, the bankruptcy court allowed Celsius to pay bonuses from a total of $2.8 million to non-executive employees, who will help the company operate and eventually bring the company out of bankruptcy, following the plan that the American judge Martin Glenn approved on December 4.
This bonus aims to to prevent these key collaborators to resign. At the start of the Chapter 11 process, Celsius had approximately 370 employees. There are only approximately 170 left today.
For Ross Kwastenieta partner in Kirkland & Ellis, the workforce of Celsius is reduced “really basic” of what the company has “needed to continue to function”.
In detail, these bonuses are intended for employees whose salaries range from $25,000 to $425,000. Additionally, the amount of most of these premiums will not exceed the $75,000.
Financially, the situation remains tense for Celsius. Besides the repayment of its customers, the company must deal with the staff costs which allow it to continue its activities as well as to significant legal fees.
For you, blockchain technology and cryptocurrencies will soon be at the heart of the daily life of each of us. You can expose yourself to Bitcoin, Ethereum and other tokens on the rising exchange. Register now on eToro and start familiarizing yourself with this ecosystem (commercial link).