Bloomberg employees miffed at lower pay


Keith Kelly of the New York Post writes that Bloomberg LP employees are upset with lower bonuses for 2011 despite a strong year for the data and media company.

Kelly writes, “Bloomberg set a town hall-style meeting for this week, where employees expect the issue of lower compensation to come up, sources said.

“Bloomberg said it had a total of 310,000 terminals installed worldwide, but “net terminal” additions of 13,672 in 2011 fell short of its goal of 15,000.

“Non-terminal revenue growth, which includes Bloomberg’s TV and radio operations as well as magazines Bloomberg Businessweek and Bloomberg Markets, also fell short of forecasts. Revenue grew by $216 million last year, below the $335 million targeted.

“The missed projections translate into lower bonus money for all the employees at the company, including the 2,300 journalists.”

Read more here.