SAN FRANCISCO — Northern California utility Pacific Gas & Electric said it won’t award $130 million in employee bonuses because of its recent bankruptcy filing, a newspaper reported Saturday. Interim chief executive John Simon cited California’s deadly wildfires and the company’s precarious financial state in an internal email message to workers on Friday, the San Francisco Chronicle reported. Senior leaders and the company’s board of directors supported the decision, he said. The employee bonuses were for 2018 performance and were set to be announced next month. ——Information from: San Francisco Chronicle, http://www.sfgate.com

Source: National Post February 23, 2019 22:41 UTC