Purdue Seeks To Award $29M In Employee Bonuses As Part Of Bankruptcy Plan
Purdue Pharma may be able to pay up to $29 million dollars in bonuses this year. That’s if a judge approves a bankruptcy settlement plan for the Stamford-based company.
Officials for Purdue argued in a hearing last month that the money is necessary to combat high turnover. An attorney for Purdue said employees are leaving for opportunities that pay more.
Connecticut Attorney General William Tong has said he opposes the bonuses.
The proposal will help the company resolve thousands of lawsuits alleging Purdue fueled the opioid crisis with deceptive marketing for OxyContin.
A confirmation hearing is scheduled for August 12.