Bankrupt crypto lender BlockFi is willing to offer certain employees a 10% to 50% retention bonus as it seeks to prevent a mass employee exodus.
According to BlockFi Chief People Officer Megan Cromwell, BlockFi risks losing more talent, unless the court approves a retention petition filed on Nov. 28, 2022.
BlockFi Looks to Stem Employee Exodus
“While we felt these extensions prudent to allow for dialogue with the U.S. Trustee and the Committee, we have experienced both additional personnel loss and increased concern regarding the receipt (and timing) of retention payments,” Cromwell said in a 14-page witness declaration filing early on Jan. 23, 2023, which both the U.S. Trustee and the creditors’ committee have opposed.
Source: https://beincrypto.com/blockfi-desperate-to-retain-talent-despite-bankruptcy/