Defying Covid Crisis: Over Half of Bulgarian Companies Will Pay Christmas Bonuses to Staff

Because of the pandemic, fewer companies will hand out Christmas bonuses to their employees this year. The incentive pay will range from BGN 200 to BGN 1000, according to a study of the Bulgarian Chamber of Commerce and Industry (BCCI), Bulgarian National Radio reported.

Despite the crisis, around 60 percent of firms intend to give additional cash to their employees. Compared to last year, the share of “generous” businesses fell by more than ten percent.

The main reason for the additional payments is both the holidays and the motivation of the employees.

Fourteen percent of companies emphasize that the main reason not to hand out bonuses is precisely the negative consequences of Covid-19, and for more than 20 percent the poor financial situation does not allow further stimulation of employees.

Seven percent of managers have not yet decided whether they can afford Christmas bonuses for their staff.

With the largest share are incentive payments of up to BGN 200 - in 36 percent of companies. From 200 to 500 leva will give away 22 percent.

Bonuses over a thousand levs can expect employees of about 15 percent of companies.

In a one-third of businesses, bonuses will be lower than last year, and for a quarter, higher.

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