bonuses or lack thereof

  • 18 Mar 2013 at 3:42 PM
  • bonuses

Bonus Watch ’13: Man Group

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Nothing to see here. Read more »

  • 05 Dec 2012 at 5:05 PM

Bonus Watch ’12: There Will Be No Parting Gifts For Laid Off Citi Employees

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The Big C apologizes if anyone was under the impression it’d be paying out bonuses and severance. Happy holidays and stay in touch. Read more »

  • 24 Apr 2012 at 1:26 PM

MF Global Trustee Was Just Kidding About Paying Out Bonuses To Upper Echelons Of MF Global Management

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Last month, it was reported that Louis Freeh, the trustee unwinding the remains of MF Global, would be asking a judge to “approve performance-related payouts for the chief operating officer, finance chief and general counsel at MF Global,” as well as twenty other MF Global employees who stayed on after the firm bit the big one. According to one of Freeh’s advisers, the bonuses were the only way they could retain the talent necessary to deal with this thing and would actually “quite honestly save a considerable amount of the estate’s resources,” as losing the team would mean hiring a bunch of consultants who wouldn’t have the first clue about where the bodies were buried. Unfortunately for those who went out and blew the money they thought they had coming to them, Freeh wasn’t actually serious about paying bonuses. Read more »

  • 13 Jan 2011 at 9:33 AM

Layoffs Watch ’11: Barclays Makes Jobs Cuts Extra Special

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Yesterday we reported that BarCap US IBD had kicked off a new round of cuts, affecting all levels, with the Global Finance target thought to be around 10% of the headcount. We’re also told sacked employees were sent packing with quite the parting gift. Read more »

  • 13 Oct 2010 at 11:45 AM

Layoffs Watch ’10: RBS

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The Queen has a holiday surprise for her corgis. Ten percent of them are getting fired. Read more »

  • 20 Sep 2010 at 3:10 PM

Layoffs Watch ’10: BofA Merrill Lynch

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According to Charlie Gasparino, those losing their jobs are miffed about getting cut prior to bonus season, if you can believe that. Read more »

  • 02 Mar 2010 at 10:45 AM

John Thain Cancels Bonuses At CIT

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As you’re aware, John Thain took over at the only firm that would have him (kidding, he’s the best), CIT Group, earlier last month. In his first order of business, Mr. T made sure to let everyone know he will not be redecorating his office like he did at Merrill, presumably before he saw just how hideous the place turned out to be. In his second order of business, he canceled all bonuses. The news was announced on an employee-wide call yesterday, and is said to have come as a bit of a shock, as people were expecting to get their numbers this week and their money on March 16 (though I suppose you could make the argument the former was delivered on schedule, it just happens to be zero). According to Thain, 2009 was “a difficult year for CIT, and though full year results have yet to be published, there is no question losses will be in the billions. As such, and given the sensitives in Washington and the world, it wouldn’t be right to give out bonuses as planned.”
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