Solyndra reportedly seeking to award bonuses to remaining employees

close

Video

Solyndra seeking to pay out bonuses?

Report: Bankrupt solar firm rewards could range from $10K-$50K

After blowing through millions of dollars in taxpayer money, solar-panel firm Solyndra is looking to hand out bonuses.

According to a report in The Washington Times, company attorneys have filed a proposal in federal bankruptcy court to hand out bonuses worth between $10,000 and $50,000 to about two dozen Solyndra workers.

The attorneys reportedly argue that the money will help motivate the few remaining employees in trying times, as the company goes through bankruptcy proceedings. The total value of the proposed bonuses is estimated at $500,000.

Under the proposal, the recipients would include engineers, finance workers and other employees.

The development comes after Solyndra executives were awarded quarterly bonuses worth up to $60,000 apiece last summer, just months before the company filed for bankruptcy in September and laid off 1,100 workers.

Solyndra had received a $535 million loan guarantee from the federal government. Energy Secretary Steven Chu said in November he does not expect taxpayers to recover much of the money.