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Blackbaud Takes Cash-Saving Steps

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.

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