Rough Times at Bloomberg LP

By Chris O'Shea Comment

Sales of Bloomberg LP’s terminals have hit a slump. According to The New York Post, the company has only sold 1,000 of them so far this year. A big chunk of Bloomberg employee bonuses depends on how well the company does overall, so the news that things have been slightly slow lately is bound to upset some staffers.

Bloomberg CEO and president Dan Doctoroff told the Post that the “Cert” — the portion of bonuses derived from company performance — would only “pay out at 20 percent of target this year.” And while yes, that’s sad news, that’s the point of the Cert. “We also do believe very strongly that we benefit when we beat expectations, and we all take something of a hit when we don’t,” explained Doctoroff.

Bloomberg is still raking in a lot of cash — revenue is expected to be around the $7 billion range — so things could be a lot worse.