The Outgoing Bloomberg CEO Sent A Memo That Made Some Employees Think They Were Getting Ripped Off On Their Bonuses
Outgoing CEO Dan Doctoroff wrote in his memo that revenues for 2014 were $9 billion.
From Doctoroff's memo:
"Company revenues increased from $5.4 billion in 2007 to over $9 billion in 2014 in spite of the impact of the financial crisis and its aftermath."
A tipster tells Business Insider that the revenue number as of June 30 was pegged $8.48 billion, not $9 billion.
A Bloomberg insider also complained to Chris Roush at TalkingBizNews because reporters' annual bonuses depend on the media giant's financial results. So if the revenue is actually at $9 billion, then that would ahve implied bonuses should have been higher.
A source familiar with the discrepencey explained: That $9 billion number Doctoroff cites is projected revenue for the year and it's inclusive of the Bureau of National Affairs - a subsidiary of Bloomberg LP-whereas the previous number didn't include the BNA.