Foley & Lardner – Economic disruptions resulting from the COVID-19 pandemic have caused many employers to make changes to employee compensation, such as reducing or deferring base salaries, as part of cost-cutting measures. Bonus programs and other performance-based compensation arrangements are also being impacted, but in different ways. One significant effect is that performance goals that once looked achievable may now be out of reach. Companies are therefore having to decide whether to make changes to the performance goals to reflect the new economic reality.
