Between a mixture of its conservative, low-cost fund offerings that appeal to investors in this time of market stress, and a performance-based compensation plan, Vanguard has been able to retain enough assets and keep costs down to avoid mass layoffs.

Vanguard awards a December bonus based on performance, the Philadelphia Inquirer reports. In the past, compensation was more closely tied to a point system based on the company’s overall performance.

“The intent is not to pay people more or less than previously, but to better align the rewards earned by each crew member with their personal performance and the overall performance of the company,” said Vanguard spokeswoman Amy Chain.

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