Blackbaud has instituted a broad set of steps designed to strengthen the company’s cash position. This includes eliminating the quarterly cash dividend and temporarily suspending 401(k) matches.

 CEO Mike Gianoni will also not draw any pay for the foreseeable future.

In addition, the company has restricted non-essential employee travel and temporarily frozen hiring. Cash merit increases and 2020 cash bonus plans are being replaced by one-time equity award will employees with a salary equal to or less than $75,000 will receive a one-time $1,000 bonus, adjusted for local currency.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Monday, 13 April 2020
Read 312 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline