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The Outgoing Bloomberg CEO Sent A Memo That Made Some Employees Think They Were Getting Ripped Off On Their Bonuses

Julia La Roche   

The Outgoing Bloomberg CEO Sent A Memo That Made Some Employees Think They Were Getting Ripped Off On Their Bonuses
Finance1 min read

Dan Doctoroff

Getty Images/ Donald Bowers

The latest Bloomberg News made some people think that they were getting ripped off for their annual 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.

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