MEDIA

Bloomberg Planning Hiring Spree, Huge Bonuses

02/09/2011 05:12 am ET | Updated May 25, 2011

Bloomberg LP, the financial data and media company founded by Mayor Mike Bloomberg, is expected to post revenue of just under $7 billion in the 12 months ending Dec. 31, up a very impressive 12.6 percent over the previous year, Media Ink has learned.

By 2014, the privately-held company, which doesn't disclose financial results or forecasts, hopes to grow its top line by 43 percent, to $10 billion a year, according to a year-end memo from Chairman Peter Grauer and President Dan Doctoroff.

..."If Bloomberg attains this goal between July 2013 and June 2014, employees will receive more than 70 percent of the salary they earn between Jan. 1, 2009 and the date of attainment," the company has told employees. As worded, the bonus could amount to 3½ years' pay.

...The growth is causing some pain at the company's Lexington Avenue headquarters -- it's looking to add some new office space, possibly to house some of the 1,100 additional employees the memo said it plans on hiring in 2011. Insiders confirm that more than 10 percent of the 2011 hires -- or some 150 people -- will be journalists.

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