Posts Tagged “pay cuts”
RBS Cuts Investment Bank Pay by 26%
by Wall Street Job Report on February 23, 2012
RBS announced pay cuts to its investment bank for 2011 of 26%. The move is a response to David Cameron’s call for pay restraint in taxpayer-owned banks.
Quit Yer Bellyachin: Rolling Stone to Wall Street
by Beth Connolly on February 10, 2012
In his response Wednesday to New York Magazine’s “The End of Wall Street as They Knew It”, Matt Taibbi of Rolling Stone accuses Sherman of manipulating his sources and rips apart any bankers who maybe are little bit unhappy about (…)
UBS Announces Bonus Clawback For Highest-Paid Employees
by Adam Jameson on February 9, 2012
Swiss giant UBS announced today an aggressive clawback provision against their top earners, part of a growing movement attacking employee compensation on Wall St.
Citigroup Announces Investment Bank Bonus Cuts
by Beth Connolly on February 8, 2012
Citigroup is cutting bonuses by 30% on average for 2011–but up to 70% less than last year for some unlucky bankers. Citi said that much of last year’s troubles could be blamed on the equity derivatives department.
Deutsche Bank Latest to Announce Bonus Cap
by Beth Connolly on February 8, 2012
Deutsche Bank told employees it will impose a 200,000 euro ($266,000) cap on bonuses paying out this year, after weak fourth quarter reports. Base salaries are also down.
